Petronas to develop offshore K5 field
KUALA LUMPUR, December 15, 2014 – Nasir Darman, the global head of Petronas’ technology arm, announced at the International Petroleum Technology Conference in Kuala Lumpur last week that the national oil company was planning a capital expenditure of $500 million-1 billion to develop a high carbon dioxide gasfield offshore Sarawak. The K5 field has higher carbon dioxide concentrations – up to 70 percent carbon dioxide – than any other gasfield currently under development.
Phase one of the project is anticipated to bring the estimated 255 bcm (9 tcf) of gas on stream using a single platform and floating production, storage and offloading vessel. However, Petronas will later be installing the first cryogenic distillation unit used for offshore development. France’s Technip, Dutch engineering firm Twister and multinationals Generon and UOP will work with Petronas on the technology for the K5 development. Gas production will ramp up in 2018.