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July 20, 2016

Vestigo Petroleum to operate and maintain Berantai offshore field

Petronas has appointed its wholly owned subsidiary Vestigo Petroleum to continue operations and maintenance of the Berantai offshore field.

Petronas has appointed its wholly owned subsidiary Vestigo Petroleum to continue operations and maintenance of the Berantai offshore field.

The field is located in Block PM 309 of the South China Sea, 150km offshore Peninsular Malaysia and produced first gas in October 2012.

Berantai consists of a wellhead platform connected to floating production storage and offloading (FPSO) vessel, known as the Berantai FPSO.

The vessel processes and exports gas to neighbouring Angsi field through a 30km subsea pipeline prior to being exported onshore.

"Vestigo’s appointment is in line with Petronas’s effort to extend the field's economic life."

Vestigo’s appointment is in line with Petronas’s effort to extend the field's economic life, while increasing the asset value.

The company appointed Vestigo after terminating the Berantai risk service contract (RSC) with previous contractors Petrofac Energy Developments and partners Kencana Energy and Sapura Energy Ventures recently.

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As part of the agreement, Petronas secured the ownership of Berantai FPSO.

The RSC was awarded to the parties in January 2011 for nine years.

Following cessation, Petronas will be able to minimise the project’s long-term value erosion and optimise the development and production activities in Malaysia.

Petrofac owned 50% interest in the contract, while Kencana and Sapura each hold 25%.

Vestigo develops small and marginal fields and currently operates the Tembikai field under the Tembikai-Chenang Cluster Small Field RSC, which produced the  first oil in June last year. 

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