GDF Suez has increased its presence in the Asia-Pacific region by buying and exploration and production license stake offshore Malaysia to find feed-gas to be marketed as liquefied natural gas (LNG).
The company has jointly entered the offshore deep water exploration Block 3F in Malaysia in partnership with Petronas Carigali (40%) and JX Nippon Oil & Gas Exploraiton (Offshore Malaysia, 40%). GDF Suez holds the remaining 20% interest in the license, which has been awarded to the consortium by the Malaysian authorities.
This new license reinforces GDF Suez’s position in exploration and production and further consolidates its position in Southeast Asia following the acquisition of a 20% interest in Block 2F in Malaysia earlier in September.
The license covers an area of approximately 4200 km2 in water depths ranging from 100 to 1200 m, offshore Sarawak province, next to the block 2F. The deep water exploration campaign will last three years and will include the drilling of an exploration well. If gas is discovered, it will be marketed either through the existing Bintulu LNG plant or through a FLNG.
LNG export to Asian markets
Jean-Marie Dauger, vice president in charge of the LNG side of GDF Suez, commented: “GDF SUEZ reinforces its positioning in Asia-Pacific, a most promising region, through this new acquisition in exploration-production activities in Malaysia. The group will benefit from these new opportunity in a high potential area, allowing new market opportunities with a potential LNG export to Asian markets.”
This is the sixth license acquired by GDF Suez since 2009: three offshore gas fields in Australia linked to the Bonaparte LNG project, two offshore exploration licenses in Indonesia, and the Block 2F in Malaysia.
Adapted from press release by Katie Woodward
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/12122013/gdf_suez_license_for_lng_exploration_565/