Irong is a conventional oil development located in shallow water in Malaysia and is operated by Vestigo Petroleum Sdn. According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, Irong was discovered in 1997, lies in block PM 309 and Block SM2-02, with water depth of around 210 feet. Buy the profile here.
The project is currently in approval stage and is expected to start commercial production in 2023.
Field participation details
The field is owned by Petroliam Nasional.
Production from Irong
Production from the Irong conventional oil development project is expected to begin in 2023 and is forecast to peak in 2025, to approximately 8,161 bpd of crude oil and condensate. Based on economic assumptions, the production will continue until the field reaches its economic limit in 2066.
Remaining recoverable reserves
The field is expected to recover 45.16 Mmboe, comprised of 45.16 Mmbbl of crude oil & condensate.
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.
For more details on the Irong Conventional Oil Field, buy the profile here.
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GlobalData, the leading provider of industry intelligence, provided the underlying research used to produce this article.
This information is drawn from GlobalData’s Oil & Gas Intelligence Center, which provides detailed profiles of 34,000+ oil and gas fields, 400,000+ exploration blocks, 1,100+ LNG terminals, 3,400+ gas processing plants, 5,000+ storage terminals, and 8,000+ pipelines, 1,400+ refineries and 13,000+ petrochemical plants worldwide.
