KUALA LUMPUR (May 2): Petroliam Nasional Bhd (Petronas) announced that it has successfully transformed Cendor Graben-2 from a field deemed marginal into one of the biggest oilfields in Malaysia.
The Cendor well was drilled to a depth of over 1,000 metres and confirmed the presence of oil and some gas bearing reservoirs.
Drilling was undertaken by Petrofac Ltd together with joint-venture partners Petronas Carigali Sdn Bhd, Kuwait Foreign Petroleum Exploration Company and PetroVietnam Exploration Production Corporation Ltd.
According to Petronas, since its first oil production, the Cendor field has performed above expectation, which helped spur further activities within the field and the surrounding areas.
This has culminated in Cendor Phase 2 development and other new developments which increased estimated recoverable resource to over 200 million barrels (MMstb), a growth of more than 16 times from when it was discovered.
The Cendor field was first discovered by Amerada Hess in 2001. However, the discovery was initially regarded as marginal with estimated recoverable resources of 12 MMstb of oil and was therefore deemed too risky and uneconomical for development.
Through other developments and Petronas’ fast-tracked efforts in the last two years, the oil and gas (O&G) company is expected to commence production from Cendor in stages throughout 2013 which will propel production to approximately 30,000 barrels per day by end of the year.
Petronas said, resource growths are also seen in other O&G fields in Malaysia, such as the fields in the Berantai rick service contracts (RSC) and Balai RSC.
The Berantai field, which commenced production in 2012, achieved an increase in estimated recoverable gas resources by 15% compared to 2011, as a result of development efforts.
The pre-development work of Balai Cluster has also given early indication of increase in resources estimates. As project owner, PETRONAS will receive 100% entitlement to the production from the Berantai and Balai RSCs
Petronas said it would continue to drive resource growth and add value to these resources.