Jitang is a producing conventional gas field located in shallow water in Malaysia and is operated by Vestigo Petroleum Sdn. The field is located in block Block SM2-02, with water depth of 230 feet.
Field participation details
The field is owned by Petroliam Nasional.
Production from Jitang
The Jitang conventional gas field recovered 9.76% of its total recoverable reserves, with peak production expected in 2022. The peak production was approximately 14 thousand bpd of crude oil and condensate and 115 Mmcfd of liquid natural gas. Based on economic assumptions, production will continue until the field reaches its economic limit in 2055. The field currently accounts for approximately 2% of the country’s daily output.
Remaining recoverable reserves
The field is expected to recover 113.16 Mmboe, comprised of 40.44 Mmbbl of crude oil & condensate and 436.32 bcf of liquid natural gas reserves. Jitang conventional gas field reserves accounts 0.04% of total remaining reserves of producing conventional gas fields globally.
About Vestigo Petroleum Sdn
Vestigo Petroleum Sdn Bhd (Vestigo), a subsidiary of PETRONAS Carigali Sdn Bhd, is an oil and gas marginal field developer that develops small and stranded oil and gas reservoirs. The company delivers rapid monetization of hydrocarbon resources by refurbishing surplus material from field, reusing the equipment and combining resources. It uses proprietary lightweight platform designs with a storage vessel, dual conductors, casing drilling techniques to provide design solutions. Vestigo also adopts seismic analysis techniques to visualize the oil and gas reservoirs. The company operates the Tembikai-Chenang field project in Malaysia. Vestigo is headquartered in Kuala Lumpur, Malaysia.
Methodology
Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.