KUALA LUMPUR, Malaysia — Petronas Carigali has entered an agreement to farm out a 50% interest in the offshore Samarang production sharing contract to SMJSB, a company owned by the Sabah State Government.
Assuming receipt of regulatory approvals, this will be the second significant development between the two companies following the commercial collaboration agreement signed by Petronas and the Sabah State Government in December 2021.
The Samarang Field, 50 km from the coast of Sabah, currently delivers about 36,000 boe/d, with the 134 MMcf/d of produced gas supplied to customers in Kota Kinabalu and Labuan.
Tests have proven its capability to strengthen coatings’ resistance against harsh weather conditions and protect assets from corroding agents. The formulation is said to contain three times higher water barrier properties than conventional epoxy paint, with improved adhesion and resistance to abrasion and UV light.
ProShield+, which has been deployed on various upstream facilities, can be added to existing paint systems to double the average lifespan of the surface coating to last up to 16 years, the company added.
Based on a simulated calculation, application to structures can reduce overall carbon footprint by an average of 50% per platform per year, Petronas claimed, and reduce maintenance spending on repainting works by up to 66% per platform.