Petronas Malaysia Sepat Offshore FPSO

YPF Eni Argentina LNG Vaca Muerta Phase 1 FLNG
Apr. 2 – 2026

Since 2010, the national oil company (NOC), Petrolian Nasional Bhd (Petronas), has decided to put efforts to develop marginal fields offshore Malaysia.
Around the Malaysian peninsula, Petronas identified 106 marginal oil fields representing more than 580 million barrels of crude oil that it cannot ignore any longer.
These marginal oil fields are defined as to contain 30 million barrels maximum each.
But with crude oil around $100 per barrel, these marginal fields hold $58 billion worth of oil.

Petronas Malaysia Sepat Offshore FPSO History

In addition to this marginal fields exploration and production, the ongoing Economic Transformation Program is targeting to increase the crude oil recovery rate in Malaysia from the current 26% to 40% on the next 5 years with the help of intensive enhanced oil recovery (EOR) projects.

With the ambition to develop 25% of these marginal fields, Petronas decided to move on the Sepat and Beranta marginal oil fields in April 2011.

Contracted to Petrofac from UK, to provide Petronas with a converted floating, storage and offloading (FSO) vessel, Sepat started its first production of crude oil on first half 2012.