Petronas signs gas production deal with ConocoPhillips, Shell

ConocoPhillips, Shell and Petronas Carigali have signed a production-sharing contract with Malaysian national oil company Petronas for the appraisal and development of four discovered undeveloped natural gas and condensate fields offshore the northwest coast of Sabah, Malaysia.

The fields, which include Kebabangan, Kamunsu East, Kamunsu East Upthrown and Kamunsu East Upthrown Canyon, have been designated as the Kebabangan Cluster. The fields lie in water depths ranging from 450 feet to 2,500 feet. The Kebabangan field is expected to be the first of the four fields to be developed. The other fields will be developed later once appraisal drilling is complete and commerciality is established. Joint venture partners in the PSC will include ConocoPhillips Sabah Gas Ltd. with 30 percent, Petronas Carigali with 40 percent, and Shell Energy Asia Ltd with 30 percent.
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