Project Profile
Value: US$100 million
Start-up Year: 2016
Water Depth: 70m
Location: Block SB303, Offshore Sabah
Area: 5,000 km2
The production sharing contract was signed in April 2008. Block SB303 is located offshore north-eastern Sabah and covers an area of 5,000 km2 where one gas/condensate discovery, the Titik Terang, has been found to date. Several prospects and leads have been identified from previous seismic acquisitions. The 3D seismic survey has been acquired in each of the blocks and is currently being interpreted.
Operators:
Lundin: Operator with 50% interest
DYAS B.V.: 25% interest
Petronas: 25% interest
Contractors:
Barakah Offshore Petroleum Berhad (through its subsidiary PBJV Group Sdn Bhd): Contract with Lundin Petroleum to provide hook-up, commissioning and topside maintenance services for Lundin’s offshore oil and gas fields in Malaysia. The value of the contract will depend on the work order to be issued by Lundin for the duration of the contract. The contract duration is from 14 August 2014 to 4 February 2016