Singapore, 27 August (Argus) — Malaysia’s Petronas Carigali, a wholly owned subsidiary of state-owned energy firm Petronas, has achieved first gas output at the Bindu field off the coast of Terengganu, the company announced on 26 August.
The Bindu field is expected to achieve peak production of 75mn ft³/d from two wells. It currently comprises a new wellhead platform that is connected via a 62km pipeline to the Guntong E production hub. The platform is designed to be unmanned and will run on solar power.
Petronas Carigali operates the field and has a 50pc share of the gas production sharing contract, with joint venture partner ExxonMobil Exploration and Production Malaysia holding the remaining 50pc.
Petronas has indicated it intends to continue to maximise oil and gas production and is still signing production sharing contracts to continue its exploration efforts. This is despite a significant drop in profit in 2024, resulting from lower average realised prices and divestments. The firm announced in June that it would reduce its workforce by 10pc against a backdrop of lower revenue and declining oil production.
Petronas’ total oil and gas production amounted to 2.4mn b/d of oil equivalent (/d) in 2024, up by 1pc on the year. Of this, oil production fell by 4.4pc on the year to 813,000 /d, while gas output rose by 3.6pc to 1.64mn /d.
By Prethika Nair
