PETRONAS has achieved another success in its small field development with the commencement of oil production from Banang field on 15 July 2014, which is three months ahead of the schedule.

Located offshore Peninsular Malaysia, Banang is the second field from the Kapal, Banang and Meranti (KBM) Cluster to have attained first oil production after the first achievement was from Kapal field that came on stream in December 2013.

The oil production from KBM cluster also marked the third Risk Service Contract (RSC) which has successfully reached oil production after the Balai cluster and Berantai Field.

The Banang field facilities consist of one Mobile Offshore Production Unit (MOPU), one Storage Tanker with approximately 600,000 barrels storing capacity, one well bay module and one flexible flow line. The field is estimated to produce an average of 6,000 barrels per day.

To date, PETRONAS has awarded six RSCs: the Berantai field to Petrofac and Sapura Kencana Petroleum Bhd in January 2011; the Balai-Bentara cluster offshore Sarawak to a consortium comprising Roc Oil Malaysia (Holdings) Sdn Bhd, Dialog Group Bhd and PETRONAS Carigali in August 2011; the Kapal, Banang and Meranti cluster to Coastal Energy KBM Sdn Bhd in June 2012; the Tembikai-Chenang cluster to VESTIGO Petroleum in October 2013; the Tanjong Baram field to EQ Petroleum Developments Malaysia Sdn Bhd and Uzma Energy Venture (Sarawak) Sdn Bhd in March 2014; and the Small Field Risk Service Contract (SFRSC) to Ophir Production Sdn Bhd (Ophir Production), a joint venture company between Octanex Pte Ltd, Scomi D&P Sdn Bhd and VESTIGO Petroleum Sdn Bhd in June 2014.

About Petronas

PETRONAS was incorporated on 17 August 1974 as the national oil company of Malaysia, vested with the entire ownership and control of the petroleum resources in the country. It has since grown from merely being the manager and regulator of Malaysia’s upstream sector into a fully integrated oil and gas corporation, ranked among the FORTUNE Global 500® largest corporations in the world.