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Mubadala moves first in race to backfill MLNG
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Report summary
On 21 March, Mubadala Petroleum announced it had sanctioned Pegaga, a 1.8-tcf gas field within the SK320 PSC, offshore Malaysian Sarawak. The US$1 billion stand-alone development plan includes a central processing platform (CPP), from which Pegaga gas will be piped to PETRONAS' Bintulu LNG plant (MLNG) through the existing network. The field is expected to plateau at 550 mmcfd for five years before declining, opening up capacity for future SK320 fields such as M5, Sirih and Sintok. The SK320 partners are Mubadala (operator, 55%), PETRONAS Carigali (25%) and Shell (20%).
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