KUALA LUMPUR: Petroliam Nasional Bhd has a unitisation agreement with the Malaysia-Thailand Joint Authority (MTJA) for the gas field straddling across Block PM 301 in the northeast coast of Peninsular Malaysia and Block A-18 in the Malaysia-Thailand Joint Development Area.
In a statement Thursday, April 21, Petronas sad the agreement for the Bumi field in Block PM 301 and the Bumi South field in Block A-18 firmed up the heads of agreement signed between the two parties in January 2008.
'The unitisation agreement gives Petronas rights to the reserves in the unitised area, which has an estimated ultimate recovery of 1.252 trillion standard cubic feet of gas.
'The agreement augurs well with Petronas' efforts towards ensuring the sustainability and security of national gas production and supply,' the national oil company said.
At the the signing ceremony for the unitisation agreement held in Kuala Lumpur today, Petronas was represented by its vice president of petroleum management Ramlan A. Malek, and MTJA by its CEO Suriyan Aphiraksatyakul.
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In a statement Thursday, April 21, Petronas sad the agreement for the Bumi field in Block PM 301 and the Bumi South field in Block A-18 firmed up the heads of agreement signed between the two parties in January 2008.
'The unitisation agreement gives Petronas rights to the reserves in the unitised area, which has an estimated ultimate recovery of 1.252 trillion standard cubic feet of gas.
'The agreement augurs well with Petronas' efforts towards ensuring the sustainability and security of national gas production and supply,' the national oil company said.
At the the signing ceremony for the unitisation agreement held in Kuala Lumpur today, Petronas was represented by its vice president of petroleum management Ramlan A. Malek, and MTJA by its CEO Suriyan Aphiraksatyakul.
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