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Petronas Issues Statement on Strategy for the Development of Block SK316

Source: www.gulfoilandgas.com 4/26/2017, Location: Asia

There have been many news reports and comments made on PETRONAS' strategy for the development of Block SK316 offshore Sarawak. Some of the reports have been misleading and some comments were misinformed.

Block SK316 contains strategic, large scale proven gas discoveries and exploration prospects with some of them containing relatively higher levels of carbon dioxide (CO2) content.

Successful and efficient exploration and development of Block SK316 will require specific technologies and capability to address the CO2 to sustain the production of clean energy for customers in Malaysia and elsewhere in the world.

PETRONAS is interested to explore the latest state-of-the-art technologies for application in the SK316 block with experienced E&P technology partner or partners. As part of this effort, we have invited proposals from selected E&P players to find the right partner(s) with the required capability and solutions. We will be critically evaluating the proposals to maximise the value of this important project.

The successful extraction of the gas reserves in Block SK316 in the most efficient manner will bring tremendous value to all stakeholders.

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