Offshore staff
KUALA LUMPUR, Malaysia -- Petrofac Ltd.'s Cendor development in block PM304 offshore Malaysia is averaging 12,000 b/d of oil production. First production from Cendor was in September, when five of the expected seven first-phase development wells came onstream. The first cargo lift of 311,000 bbl of oil recently was sold from the field at a price of $2/bbl below Tapis crude, the benchmark for setting crude oil prices in the Asia region.
"The Cendor development program has exceeded our expectations with completion of the seven wells ahead of schedule and the timely commissioning of the MOPU and FSO," said Amjad Bseisu, chief executive of Petrofac Resources. "Additionally, initial well test results are encouraging, and in partnership with Petronas Carigali, Petrofac is undertaking detailed analysis of the reservoir to re-evaluate the extent of estimated proven reserves."
Petrofac Resources subsidiary Petrofac Malaysia operates the Cendor field with partners Petronas Carigali, Kuwait Foreign Petroleum Exploration Co., and PetroVietnam Investment Development Co. Petrofac has a 30% interest in the production sharing contract for the field, which holds estimated proven reserves of 24.6 MMbbl.
11-13-06
