Muhibbah Engineering has secured a contract with Ophir Production (OPSB) to provide the engineering, procurement, construction, installation and commissioning (EPCIC) of a wellhead platform for the Ophir oil field located offshore Peninsular Malaysia.
Ophir Production is the 50%-owned Malaysian joint venture company of Octanex.
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Under the contract, Muhibbah will fabricate the Ophir platform at its yard at Klang, 40km south-west of Kuala Lumpur, prior to its installation in the Ophir field.
The platform is expected to be installed in the field during third quarter of 2016.
Following this, a jack-up drilling rig will be mobilised to the site and development drilling will begin later on.
Under the planned schedule, the Ophir filed will start oil production in late-2016.
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By GlobalDataOctanex COO Rae Clark said: "The award of the wellhead platform contract is a significant step towards first oil for the Ophir development and marks a major milestone in the transformation of Octanex from an exploration company to a producer."
Octanex’s share of the Ophir project is funded through OPSB’s 75% project financing and the company’s strategic alliance and funding arrangements with Malaysia-based Sabah International Petroleum (SIP).
The Malaysian State of Sabah wholly owns SIP through the Sabah Development Bank.
The oil field is being developed through a low-risk development concept involving three production wells, a well head platform, and a leased floating production storage and offload vessel.
Octanex holds a 50% interest in OPSB, while Scomi and Vestigo own 30% and 20% respectively.
