Malaysia

October 17, 2012

Petronas has signed another heads of agreement for its $19 billion Refinery & Petrochemical Integrated Development (RAPID) complex in Pengerang, Johor, this time with Italy-based and Eni-owned Versalis to jointly own, develop, construct and operate elastomer plants.

Murphy Oil is optimistic that a floating LNG facility based development in partnership with Petronas could produce gas from deepwater block H, offshore Sabah, potentially by 2016. Front end engineering and design (FEED) is expected to be awarded later this year, with plans to sanction the project in 2013.

Murphy has drilled four wells in block H since 2007 and made four field discoveries, comprising Rotan, Dolphin in 2008 and Buluh and Buluh Li Li in 2012, altogether estimated to have a resource of 1.5-2tcf of gas. Two more wells are slated later this year.



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