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Kuala Lumpur, Malaysia, 8 October 2014 – PETRONAS is pleased to announce that the Gumusut-Kakap floating production facility, located approximately 120 kilometres off the coast of Sabah, Malaysia has started oil production.
The Gumusut-Kakap field sited in waters up to 1,200 metres deep is Malaysia’s third deepwater field brought on-stream after Kikeh and Siakap-North Petai fields. The Gumusut-Kakap field is expected to reach an annual peak oil production of around 135,000 barrels a day.
The field’s full development system currently comprises 14 out of 19 planned subsea wells tied back to a permanent structure of a semi-submersible floating production system and an oil export pipeline that will bring the crude to the Sabah Oil and Gas Terminal (SOGT) in Kimanis, also in Sabah.
“The move into deepwater is a natural step that we have undertaken towards realising our priority to monetise, increase and maximise our resources and values while we continue to sustain and grow production,” said PETRONAS President and Group CEO, Tan Sri Dato’ Shamsul Azhar Abbas.
This, he added, further strengthens PETRONAS’ rationale for developing expertise in deepwater due to the readily available opportunities in Malaysia, which contributes positively to PETRONAS and the nation.
“Deepwater is a technology-intensive discipline with many risks that require skilled players to unlock hydrocarbon potential. Credit for this significant milestone goes to the collaborative efforts among Sabah Shell Petroleum Co., Murphy Sabah Oil Co., Conoco Philips Sabah Ltd. and PETRONAS Carigali Sdn Bhd.
“Therefore developing and harnessing these capabilities domestically will enable PETRONAS to compete globally for opportunities in these areas,” said Tan Sri Dato’ Shamsul Azhar Abbas.
The Gumusut-Kakap field is operated by Sabah Shell Petroleum Co (33%), partnering with ConocoPhilips Sabah (33%), PETRONAS Carigali Sdn Bhd (20%), and Murphy Sabah Oil Co. (14%).
