Petronas plans $5B natural gas project offshore Malaysia

By Phaedra Friend Troy

Malaysian national oil company Petronas plans to develop a $5.1 billion natural gas project off the eastern coast of Malaysia, reports Reuters. 

The fast-track North Malay Basin project integrates the development of nine marginal natural gas fields about 190 miles offshore Malaysia. In addition to the offshore development, Petronas plans to build a subsea pipeline to deliver the gas from the fields to the state of Terengganu. 

First production is scheduled for 2013 at a rate of 100 million cubic feet a day, and Petronas plans to increase production to 250 million cubic feet a day by 2015. 

Despite being the second-largest exporter of LNG (behind Qatar), Malaysia has been battling natural gas shortages used for gas-fired power generation as of late, and this project should help to combat that.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs