PETROLIAM Nasional Bhd (Petronas) will spend more than RM1.1 billion over the next three to four years in its exploration and production technology centre to research and develop innovative and applicable technologies to rejuvenate and enhance oil production.
A notable area the petroleum giant is looking at is the implementation of the Enhanced Oil Recovery (EOR) programme to enhance crude oil production in maturing fields, said Petronas director Datuk Mohamad Idris Mansor.
There are currently 10 EOR projects in the pipeline at various stages, and the entire programme is scheduled to be rolled out in phases over the next decade, Idris said.
The first application of EOR technology — a large-scale project developed at a cost of RM10 billion — is being implemented at the Tapis oil field, offshore Terengganu.
It has the potential to boost production from Tapis by up to 35,000 barrels per day from the present three to four thousand barrels per day, he explained.
The EOR in this case is expected to extend the life of the field by more than 25 years.
Idris was speaking at the Malaysia Oil & Gas Services Exhibition and Conference (Mogsec 2014), here, yesterday.
He said the game plan for Malaysia is to have a more diversified oil and gas sector by 2020 to build up its competitive advantage.
The oil and gas and energy sector has long been a pillar of the economy, contributing about 30 per cent of the country’s gross domestic product and 40 per cent of the revenue.
Malaysia’s reserves total 22.2 billion barrels of oil equivalent, Idris added.
Idris also witnessed the launch of a 50:50 joint venture between Technip and Malaysia Marine and Heavy Engineering Sdn Bhd.
Technip-MMHE joint venture will provide engineering, procurement, construction, installation, and hook-up/commissioning services for the global oil and gas industry.
The first project is the engineering, procurement and construction contract for the Malikai Deepwater Tension Leg Platform, which will be installed 110km offshore Sabah.
