Ophir field secures finances for development

Octanex N.L. has secured limited recourse project finance for development of the Ophir field, offshore Malaysia.

Offshore staff

MELBOURNE, Australia --Octanex N.L. has secured limited recourse project finance for development of the Ophir field, offshore Malaysia.

The field will be development by OPSB, a Malaysian downstream oil and gas services company listed on the Main Board of Bursa Malaysia with a 30% interest, via a simple stand-alone development with first oil expected in December 2015. Field development will involve the drilling of three production wells from a single wellhead platform producing into a leased tanker for storage and offloading of crude.

Costs of the project are estimated at $135 million.

07/24/2015

More in Company News