GDF SUEZ pursues its development in E&P activity in the Asia-Pacific region with a new exploration license in Malaysia
GDF SUEZ 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 (Offshore Malaysia) (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 (2009) linked to the Bonaparte LNG project, two offshore exploration licences (2009, 2011), currently under development in Indonesia and the Block 2F (2013) in Malaysia.
GDF SUEZ E&P International holds a balanced portfolio of 344 licenses1 (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.
1As of 31/12/12
GDF SUEZ develops its businesses (power, natural gas, energy services) around a model based on responsible growth to take up today’s major energy and environmental challenges: meeting energy needs, ensuring the security of supply, fighting against climate change and maximizing the use of resources. The Group provides highly efficient and innovative solutions to individuals, cities and businesses by relying on diversified gas-supply sources, flexible and low-emission power generation as well as unique expertise in four key sectors: independent power production, liquefied natural gas, renewable energy and energy efficiency services.GDF SUEZ employs 138,200 people worldwide and achieved revenues of €82 billion in 2012. The Group is listed on the Paris, Brussels and Luxembourg stock exchanges and is represented in the main international indices: CAC 40, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe and Euronext Vigeo (World 120, Eurozone 120, Europe 120 and France 20).