
Malaysian oil and gas company "Petronas" has signed three main contracts worth US$5.2 billion with Petronas Carigali Sdn Bhd and Hess Exploration and Production Malaysia B.V. for the North Basin project in Malaysia. In a statement issued Thursday, Petronas said the new integrated gas development project would be implemented in two phases, Early Production System and the Full Field Development. "The project is part of Petronas' overall efforts, including the various enhanced recovery initiatives, to enhance the security of gas supply situation in the country," according to the statement. Petronas said the project would commercialize around 1.7 standard trillion cu ft of gas reserves from the area. Geologically located in the North Malay Basin in the offshore lower part of the Gulf of Thailand. The North Malay Basin is a Neogene intracratonic rift/sag basin, elongated in shape, oriented in the northwest-southeast direction and consists of provinces of margin platform, margin ramps and central basinal area or depocentre. Geochemical studies indicate a rich source potential for gas and also for substantial amount of oil. Hydrocarbons within the Malay Basin are found in all of the above provinces. Generally, the North Malay Basin contains thick sediments in excess of 8 km deposited since the Oligocene.
GMT 17:56 2018 Wednesday ,17 January
Ericsson to write down 1.4 billion euros in fourth quarterGMT 19:16 2018 Saturday ,13 January
China shuts Marriott website over Tibet error, scolds other firmsGMT 17:31 2018 Thursday ,11 January
UK group bids for Europe's biggest aluminium smelterGMT 17:24 2018 Thursday ,11 January
UK supermarket Sainsbury's lifts outlook after bumper ChristmasGMT 17:52 2018 Tuesday ,09 January
H&M removes 'black boy' ad after racism accusationGMT 19:38 2018 Wednesday ,03 January
Petrobras pay $2.95bn to settle US class action on corruptionGMT 13:49 2018 Wednesday ,03 January
China’s Ant Financial drops $1.2 billion MoneyGram deal as US approval failsGMT 17:47 2017 Sunday ,31 December
BA owner to buy bankrupt Austrian airline Niki
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor