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 . The field is located in block PM-3 Commercial Arrangement Area (CAA ), with water depth of 177 feet.
An expansion project is associated with the PM-3 CAA , namely NBO-H4 Project Development. This project is currently in the commissioning stage.
Production from PM-3 CAA
The PM-3 CAA conventional oil field recovered 86.66% 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 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 76.94 Mmboe, comprised of 24.48 Mmbbl of crude oil & condensate and 314.74 bcf of natural gas reserves. PM-3 CAA conventional oil field reserves accounts 0.02% of total remaining reserves of producing conventional oil fields globally.
Contractors involved in the PM-3 CAA conventional oil field
Some of the key contractors involved in the PM-3 CAA project as follows.
Design/FEED Engineering: Blackstone E&C Sdn
Main EPC: UMD Energy Sdn
Other Contractors: Sar Venture Holdings (M) Sdn
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.
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.