KUALA LUMPUR (April 13): SapuraOMV Upstream's subsidiary SapuraOMV Upstream (Sarawak) Inc has inked a final investment decision (FID) for the Jerun gas field development in Sarawak with its partners, paving the way for the full execution of the project.
“We are very proud to be a key gas supplier to a PETRONAS, as we continue to pursue our agenda to deliver clean energy to Asia. Jerun is part of our strategic investment to become one of the leading independent operating companies in the region,” said SapuraOMV chairman Tan Sri Shahril Shamsuddin.
SapuraOMV explained that the Jerun gas field development is the latest and largest operated project for SapuraOMV, and is expected to produce some 500 MMscfd of gas when it comes onstream in 2024. Gas produced from the field will be sold to the customers in Bintulu including the Petronas LNG complex.
The SK408 Jerun development is SapuraOMV’s third major upstream gas development in East Malaysia, having first started with the development and commencement of production from the SK310 B15 gas field in 2017, and completion of SK408 Phase 1 development comprising Gorek, Larak, Bakong fields in 2019/2020.
Gross production from these fields stands at 575 MMscfd (96 kboed). When Jerun comes onstream, it will add a further 500 MMscfd (83 kboed) of production.
SapuraOMV’s partners under SK408 PSC are Sarawak Shell Bhd (30%) and Petronas Carigali Sdn. Bhd (30%).
SapuraOMV is a strategic partnership between Sapura Energy Bhd and OMV Exploration & Production GmbH, a subsidiary of Austria’s OMV Aktiengesellschaft.
Shares in Sapura Energy closed unchanged at 14 sen today, valuing it at RM2.24 billion.