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SapuraKencana Energy Sarawak Inc announces the signing of the SK310 upstream gas sales agreement for B15 gas field

June 27, 2016

SapuraKencana Energy Sarawak Inc (“SKE”), a wholly-owned subsidiary of SapuraKencana Petroleum Berhad (“SKPB”) has signed the SK310 Upstream Gas Sales Agreement (“UGSA”) in relation to the production of gas from the B15 Gas Field on Thursday, 23 June 2016, between Petroliam Nasional Berhad (“PETRONAS”) as Gas Buyer and the SK310 Production Sharing Contract (“PSC”) Contractors as Joint Sellers. SKE is the Operator of Block SK310 PSC which was awarded by PETRONAS on 17 June 2008. SKE has participating interest of 30%, PETRONAS Carigali Sdn. Bhd., 40%, and Diamond Energy Sarawak Sdn. Bhd., a subsidiary of Mitsubishi Corporation, 30%.

The B15 Gas Field which was discovered in December 2010 is located within the SK310 PSC area, offshore East Malaysia. The development will comprise a central processing platform with a 35km gas evacuation pipeline to be tied into the existing infrastructure. The B15 Gas Field will deliver gas to the Malaysia Liquefied Natural Gas (MLNG) complex in Bintulu, Sarawak. The first gas delivery is targeted to be in the fourth quarter of 2017.

“I would like to thank PETRONAS and the SK310 JV partners for their efforts in getting the project to realisation. The SK310 UGSA marks SKE’s first participation in a Gas Sales Agreement for East Malaysia,” said Tan Sri Dato’ Seri Shahril Shamsuddin, President & Group CEO of SKPB.

 

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