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Maintenance at Malaysia-Vietnam oilfield to cut Aug Bunga crude exports: trade

Maintenance at Malaysia-Vietnam oilfield to cut Aug Bunga crude exports: trade

Friday, June 24, 2016, 09:20 GMT+7

SINGAPORE, June 23 - A scheduled oilfield maintenance in the joint production area of Malaysia and Vietnam will reduce Bunga crude exports in August, two sources familiar with the matter said on Thursday.

Petronas and PetroVietnam will be carrying out maintenance at the fields that produce Bunga Kekwa and Bunga Orkid crude in the first half of August, they said.

That will reduce crude exports to just one cargo of Bunga Orkid for August to be marketed by Petronas, the sources said, down from 3-4 cargoes of the two grades each month or about 30,000 barrels per day of production.

The offshore fields are located in Block PM3 CAA overlapping Malaysia and Vietnam.

In April, Petronas and PetroVietnam signed a production sharing contract to extend the operation of Block PM3 CAA for another 10 years until 2027, according to local news reports.

The two state companies do not typically comment on operational matters. 

Reuters

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