Oilfield services provider Tanjung Offshore Services (TOS) has received a letter of award from the Malaysian subsidiary of Spanish oil firm Repsol for the provision of maintenance, construction, and modification services on PM3-CAA and PM-305 offshore licenses.
In a Bursa Malaysia filing on Monday, Tanjung’s parent company T7 Global Berhad said that the letter of award was dated December 19, 2019.
According to the company, the duration of the contract is for a period of five years from the effective date of the letter of award. The contract value will be as per work order request by Repsol Oil & Gas Malaysia.
The PM3 block is located within a commercial arrangement area (CAA) set up between Malaysia and Vietnam to allow exploration and the development of several oil and gas discoveries.
Initial development focused on the Bunga Kekwa field which lies wholly within PM3 CAA, with first oil achieved in July 1997 via an early production system. Phases 2 and 3 achieved peak production in early 2004.
The PM-3 CAA project focuses on the extraction of oil and gas from six different offshore fields located throughout a 1,350 square kilometer area in the overlapping zone between Malaysia and Vietnam.
The project involves developments of the West Bunga Kekwa, East Bunga Kekwa-Cai Nuoc, East Bunga Raya, West Bunga Raya, NW Bunga Raya, and Bunga Seroja fields, located in the southeast portion of the block.
Block PM305 lies around 150 kilometers off the east coast of Peninsular Malaysia and holds the South Angsi, Kuning and Murai oil fields.
The fields have been developed via mobile offshore applications barge (MOAB) with a steel jacket and a leased FSO. The field was brought onstream in 4Q 2006.
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