Petronas Malaysia and Mitsubishi Corporation of Japan have officially made the final investment decision for the Kelidang ultra deepwater gas field development project in Brunei Darussalam waters. This major decision marks the substantive development stage of this project, which has been delayed for several years and restarted multiple times, with an expected total investment of slightly less than 1.387 billion US dollars.

The project is located in Block CA-2, about 125 kilometers off the coast of Brunei, with a water depth of approximately 150 meters. It will be developed using a floating production, storage, and offloading unit with a daily processing capacity of 450 million cubic feet. The device will connect six deep water wells through submarine pipelines to achieve joint development of oil and gas fields such as Kelidang North East, Keratau, and Keratau South West.

As an important partner in the project, Mitsubishi Corporation of Japan has confirmed an investment of 40 billion yen (approximately 260.7 million US dollars). The company has held 18.75% equity in the block since 2022. According to the plan, the FPSO unit will adopt a fixed lease term of 12 years with extension options, and the construction of related subsea production systems and natural gas export pipeline infrastructure will also be promoted simultaneously. Keywords: International News and Information, International News Network

This investment decision will effectively release the trillions of cubic feet of natural gas and associated liquid hydrocarbon resources that have been proven in the region for many years. The smooth progress of the project will not only drive the improvement of Brunei's deep-sea oil and gas development technology, but also provide important guarantees for regional energy security and economic development, and have important demonstration significance for promoting the development of deep-sea oil and gas resources in Southeast Asia. Editor/Yang Beihua