Malaysia's Petra Energy has secured a contract with Petronas for technical services for Banang offshore field production continuation in Malaysia. The two-year contract takes effect on June 29, 2020.
Under the contract, Petra Energy will provide services to operate and maintain the Banang field.
The main scope of works to be undertaken within the contract duration includes the provision of the following of a) Production, Storage and Offloading Facilities, Wells and Reservoir Surveillance, Production Planning & Forecasting, Routine Operations & Maintenance, Logistics, Inventory and Warehousing
The value of the contract is estimated at USD 40 million over the two-year contract period.
"[Petra Energy] is in an ideal position to undertake the operation and maintenance of the Banang Field after having an exposure to the upstream field development and production via a thirty percent (30%) Joint Venture in the Kapal Banang Meranti Small Fields Risk Service Contract," Petra Energy said.
"The opportunity to operate and maintain Banang Field is a natural progression and an extension of its services within the oil and gas industry.
In addition, the PEB Group has the right capabilities and asset such as the Mobile Offshore Production Unit (MOPU) to undertake the scope of works under the terms of the Contract," the company added.