ConocoPhillips takes over as sole operator of gas project in Malaysia, Petronas says (updated)
23/01/2025 14:43
(Updates with further details on the transfer from paragraphs
2)
Jan 23 (Reuters) - Malaysia's Petronas IPO-PETO.KL on
Thursday said it has officially transferred its contractual
right for a cluster of oil and gas fields in the country to a
unit of US-based firm ConocoPhillips COP.N .
The rights relate to the Kebabangan Cluster, a group of
oil, condensate, and gas fields in the state of Sabah, Malaysia,
which was earlier jointly operated by units of Petronas,
ConocoPhillips and Shell SHEL.L .
The deal, which transfers the operatorship of the field
solely to ConocoPhillips Sabah Gas, allows operations set to
support energy security until 2050.
The project has an export capacity of up to 750 million
standard cubic feet of gas per day, Petronas said.
(Reporting by Roshan Thomas in Bengaluru; Editing by Leroy Leo)
((Roshan.Thomas@thomsonreuters.com))