Fossil fuels supply most of the world’s energy demand and may continue to remain the largest source of energy.
In view of rising energy consumption, this EPP aims to encourage the use of advanced technologies to boost oil recovery from mature oil fields in Malaysia.
- In 2014, PETRONAS identified 10 potential EOR projects in offshore Malaysia and implemented its first EOR technology at a cost of around RM10 billion at Tapis field offshore Terengganu.
- The implementation of EOR in Tapis field makes it the largest offshore EOR project in Southeast Asia and this is expected to extend the field’s life by another 25 years and boost production by up to 35,000 barrels of oil per day from 3,000-4,000 barrels currently.
In conjunction with its Production Sharing Contract (PSC) partner, PETRONAS Carigali Sdn Bhd., has plans to invest in...