Petronas Plans $5 Billion Development of Malaysia's Marginal Gas Fields

摘要

Malaysia's Petronas has embarked on a 15 billion ringgit ($5 billion) development designed to unlock gas from marginal and challenging fields. Under its North Malay Basin project, the state firm said on Tuesday it plans to work with partners in production-sharing contracts to develop a cluster of nine gas fields around 300 kilometers off the northeastern coast of peninsular Malaysia. It deliberately did not identify the partners, as negotiations are still continuing, a Petronas spokesman told International Oil Daily.