Fossil Energy – Banang Field
Petronas, through Malaysia Petroleum Management (MPM) recently awarded a Late Life Asset Production Sharing Contract (LLA PSC) for Banang field, located offshore Peninsular Malaysia to Petra Energy Development.
PEDSB is a wholly owned subsidiary of Petra Energy Berhad. PEDSB is the operator of the field with 100 percent participating interest.
The Banang field had achieved its first oil production in 2014 as part of Kapal, Banang and Meranti Cluster Small Field Risk Service Contract and the field had reached its peak production of 14,000 barrels per day in 2015.
