Following the cessation of the Berantai Risk Service Contract (RSC) with the previous contractors, PETRONAS has appointed its wholly-owned subsidiary, Vestigo Petroleum Sdn Bhd (Vestigo) to continue the operations and maintenance of the field on its behalf.

Located about 150 km offshore Peninsular Malaysia, the Berantai field produced first gas in October 2012. The field comprises a wellhead platform connected to a floating production storage and offloading (FPSO) vessel, the Berantai FPSO, which processes and exports gas to the neighboring Angsi field via a 30km subsea pipeline before being exported onshore.

The appointment of Vestigo is in line with PETRONAS’ effort to extend the economic life of the field and maximize the long term value of the asset.

Vestigo, which specialises in the development and production of small and marginal fields, currently also operates the Tembikai field under the Tembikai-Chenang Cluster Small Field RSC, which achieved first oil in June 2015.

This article is for information and discussion purposes only and does not form a recommendation
to invest or otherwise. The value of an investment may fall. The investments referred to in this
article may not be suitable for all investors, and if in doubt, an investor should seek advice from
a qualified investment adviser. More

Source link