KUALA LUMPUR: ConocoPhillips, a New York Stock Exchange-listed oil and gas company, has announced the start of gas production from the Kebabangan gas field, located about 96km off Malaysia.
Its executive vice-president for exploration and production Matt Fox said Kebabangan gas field offshore Sabah is the third major project startup in Malaysia this year, with Siakap North-Petai brought on stream in the first quarter and Gumusut-Kakap floating production facility starting up last October.
ConocoPhillips said project startups in Malaysia are expected to add about 60,000 barrels of oil equivalent per day to the company’s production volumes by 2017.
“The addition of these high-margin barrels are an important part of the company’s overall plan to deliver three to five per cent annual production and margin growth,” it said in a statement.
The field is operated by Kebabangan Production Oil Company, a joint venture where ConocoPhillips and Shell Energy Asia Ltd each hold 30 per cent stake and Petronas Carigali Sdn Bhd the remaining.