GDF Suez Strengthens Presence in Malaysia E&P Activities

GDF Suez of France said it has jointly entered the offshore deep water exploration Block 3F in Malaysia in partnership with PETRONAS Carigali (40%), operator of the block, and JX Nippon Oil & Gas Exploration (40%). GDF SUEZ holds 20% participating interest in the license.

The license has been awarded by Malaysian Authorities to the consortium.

This new award reinforces the GDF SUEZ’s position in exploration-production and further consolidates its position in South-East Asia following the acquisition of a 20% working interest in Block 2F in Malaysia, in September 2013.

The license covers an area of approximately 4,200 km² in water depths ranging from 100 to 1,200 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. In case of gas discovery, gas will be marketed either through existing Bintulu LNG plant or through a FLNG.

Jean-Marie Dauger, Executive Vice President of GDF SUEZ in charge of Global Gas & LNG Business Line said: “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 the Group since the acquisitions of several licences in Asia-Pacific region from 2009: three offshore gas fields in Australia linked to the Bonaparte LNG project, two offshore exploration licences, currently under development in Indonesia and the Block 2F in Malaysia.

GDF Suez E&P International holds a balanced portfolio of 344 licenses (54% operated) between mature regions and high potential exploration zones in 16 countries. In the Asia-Pacific region, GDF Suez is a partner in the development of the Jangkrik project in Indonesia, east of Borneo and the operator of the floating liquefaction project Bonaparte LNG in the North West of Australia.

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LNG World News Staff, December 12, 2013