PM-3 CAA is a producing conventional oil field located in shallow water in Malaysia – Vietnam PM-3 Commercial Arrangement Area and is operated by Hibiscus Petroleum. According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, the field is located in block PM-3 Commercial Arrangement Area (CAA), with water depth of 177 feet. Buy the profile here.
An expansion project is associated with the PM-3 CAA, namely the PM-3 CAA Development. This project is currently in the feasibility stage.
Field participation details
The field is owned by Hibiscus Petroleum, Petroliam Nasional and Vietnam National Oil and Gas Group.
Production from PM-3 CAA
The PM-3 CAA conventional oil field recovered 89.07% of its total recoverable reserves, with peak production in 2004. The peak production was approximately 54.03 thousand bpd of crude oil and condensate and 287.00 Mmcfd of natural gas. Based on economic assumptions, production will continue until the field reaches its economic limit in 2029. The field currently accounts for approximately 100% of the country’s daily output.
Remaining recoverable reserves
The field is expected to recover 63.03 Mmboe, comprised of 19.40 Mmbbl of crude oil & condensate and 261.78 bcf of natural gas reserves. PM-3 CAA conventional oil field reserves accounts 0.01% of total remaining reserves of producing conventional oil fields globally.
About Hibiscus Petroleum
Hibiscus Petroleum Bhd (Hibiscus Petroleum) is an exploration and development of oil and gas. The company provides activities such as investment holding and the provision of project management; and technical and other services relating to the oil and gas exploration and production industry. The Company's primary segments include Investment holding and group activities, which includes investment in companies owning/operating oil and gas concessions. It operates its business through Lime, 3D Oil, VIC and L31, VIC and P57, Anasuria, and HIREX, among others. Hibiscus Petroleum also has oil exploration operations in Norway and the Middle East. The company operates in the UK, Australia, and Malaysia. Hibiscus Petroleum is headquartered in Kuala Lumpur, Malaysia.
For more details on the PM-3 CAA 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.
