Project Profile

Value: Undisclosed
Location: Overlapping zone between Malaysia and Vietnam
Start-up Year: July 1997
Production: 60,000bbls/d of oil and 270mmcf/d of gas
Area: 1,350km²

The PM-3 CAA project will extract oil and gas from six different offshore fields located throughout a 1,350km² area in the overlapping zone between Malaysia and Vietnam. The project involves development of the West Bunga Kekwa, East Bunga Kekwa-Cai Nuoc, East Bunga Raya, West Bunga Raya, NW Bunga Raya and Bunga Seroja fields, located in the southeast portion of the block.

Phases 2 and 3 of the PM-3 Commercial Arrangement Area (CAA) project are being carried out offshore Malaysia/Vietnam. Phase 1 oil production commenced in July 1997. Phases 2 and 3 achieved peak production early 2004. Talisman Malaysia is the operator for the PM-3 CAA project with a 41.44% interest. Petronas Carigali holds a 46.06% interest and PetroVietnam Investment & Development Company holds a 12.5% interest.

A portion of the unitised East Bunga Kekwa - Cai Nuoc field extends onto Vietnam Block 46-Cai Nuoc. Talisman Vietnam is operator and holds a 33.15% interest in Block 46-Cai Nuoc. Petronas Carigali (Vietnam) holds a 36.85% interest and PetroVietnam Investment & Development Company holds a 30% interest.

Talisman will continue to operate Block PM3 CAA with equity interest of 35%
PETRonAS Carigali Sdn. Bhd. (PCSB)  to operate Block PM3 CAA with equity interest of 35%
PetroVietnam Exploration Production Corporation Limited (PVEP) to operate Block PM3 CAA with equity interest of 30%  (09/05/2016)

Development drilling of the 60-well programme commenced in October 2002 and continued throughout 2004.

The project centres on the installation of four new wellhead platforms, a central processing platform, compression annexe platform, floating storage offloading vessel and inter-field pipelines. These facilities have provide the development with a production capacity of 60,000bbls/d of oil and 270mmcf/d of gas. The conversion of the 98,567dwt crude tanker into a Floating Storage and Offloading (FSO) was carried out by MSE.

The topsides were installed in a novel floatover operation using the COSCO Class 2 dynamic positioned (DP) Heavy Lift Vessel (HLV) Tai An Kou. This was the first floatover performed using DP control and the first such operation for this vessel. This operation was carried out as part of the EPCI (engineering, procurement, construction and installation) contract, awarded by field operator Talisman Malaysia to Hyundai Heavy Industries (HHI). Noble Denton provided engineering and supervision assistance. The vessel was provided under a separate sub-contract by NMA-COSCO. Noble Denton also provided engineering support and superintendency to NMA-COSCO for the Tai An Kou and its sister ship Kang Shen Kou.

Operators:

Talisman Malaysia: operator with 41.44% interest

Petronas Carigali: with 46.06% interest

PetroVietnam Investment & Development Company: with 12.5% interest

Contractors:

Hyundai Heavy Industries (HHI): EPCI contract

Noble Denton: Engineering and supervision assistance

OceanMight: EPC contract (May 2016)

Subcontractors:

NMA-COSCO: Provider of the vessels, Tai An Kou and Kang Shen Kou

Noble Denton: Engineering support and superintendency for the vessels (Tai An Kou and Kang Shen Kou)