Project Profile
Value: US$347 million
Location: Block PM313, East Coast of Peninsular, Malaysia
Water depth: 65 m
Start-up year: January 2012
Sepat Oil Discovery at Block PM 313 off Peninsular Malaysia has a large reserve base that is yet to be fully assessed. The project was believed to have been set back by the complex properties of the waxy crude in the field, which contains a high content of carbon dioxide. Petronas is keen to reduce its investment risk and has approached the market with an unusual proposition that may set a precedent for other similar finds in Malaysia. Petronas aims at fast-tracking this project with first oil scheduled in Q4 2011.
The project comprises a mobile offshore production unit (MOPU), a floating storage and offloading (FSO) facility for the early production of about 20,000 barrels of oil per day, together with all interconnecting subsea pipelines.
Operator:
Petronas (Petroliam Nasional Berhad)
Contractors:
Bumi Armada: Supply and install the FSO. (January, 2011)
Chalpoint (M) Sdn Bhd: In-field pipelines engineering
MMC Corporation Berhad: MOPU fabrication
Consortium for EPC:
Petrofac: An EPCIC contract for the development of SEPAT offshore early production system (January, 2011)
Kencana Petroleum Berhad: Processing equipment to the MOPU (January, 2011)
Sub Contractor:
Keppel Shipyard: FSO conversion for Bumi Armada