Sapura Energy’s wholly owned subsidiary, Sapura Exploration and Production (Sarawak), and its partners have taken a final investment decision (FID) to develop the Gorek, Larak and Bakong fields offshore Sarawak, Malayasia, as the first phase in the SK408 Production Sharing Contract.

The partners include Petronas Carigali and Sarawak Shell Berhad.

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The FID follows the Field Development Plan approval from Petroliam Nasional Berhad (PETRONAS) and concurrently the signing of the key terms to the gas sales agreement for phase 1 of the SK408 gas field development.

Sapura Energy Berhad president and group CEO Tan Sri Dato’ Seri Shahril Shamsuddin said: “The development of the SK408 gas fields further strengthens Sapura Energy’s position in Malaysia as a significant partner and supplier of natural gas to one of the world’s largest LNG production facilities, the Petronas MLNG complex in Bintulu.”

Gorek, Larak and Bakong fields in the SK408 gas field development project are part of the discoveries made by Sapura E&P in its drilling campaign in 2014.

The fields will be developed as separate wellhead platforms connected to the existing processing facility and to the MLNG complex.

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“The group has been able to geographically diversify our E&P segment and put in place a well-balanced portfolio across exploration, development and production phases.”

The SK408 gas fields will be Sapura E&P’s second major upstream gas development project in East Malaysia, following the successful development and commencement of production from the SK310 B15 gas field.

Tan Sri Shahril said: “The final investment decision represents a critical milestone as we further progress towards unlocking the value of our gas fields, thus providing clear visibility of our long-term gas monetisation plans.

“With the recent extensive addition to our exploration acreage in Mexico and New Zealand, the group has been able to geographically diversify our E&P segment and put in place a well-balanced portfolio across exploration, development and production phases.”

Sapura E&P serves as the development and production operator of the Larak and Bakong fields, while Sarawak Shell Berhad acts as operator for the Gorek field.

Sapura E&P has working interest with partners Petronas Carigali and Sarawak Shell Berhad.