New tech requires fewer unplanned shutdowns, allowing for more production
Carigali-PTTEPI Operating Company (CPOC) announced this week that new chemical treatment and cooling technology that was installed on its
Source: Malaysia Thailand Joint Authority Muda Field Shaded in Pink
development platform in the Gulf of Thailand saved the company approximately $52 million per year. The tech, which was provided by General Electric (ticker: GE), reduced chemical consumption by 9.5 tons and decreased shutdown time and production loss, according to a press release.
“Our Muda Field platform was losing a significant amount of money per year due to unplanned shutdowns,” said Shahzada M. Nisar, head of operations for CPOC.
CPOC’s platform in the Muda Field is located approximately 150 km (93 miles) northeast of Kota Bharu in Malaysia, 250 km (155 miles) east of the Songkhla province in Thailand, in about 55-65 meters (180-213 feet) of water. It was using a cooling medium to cool off gas from compressors for gas processing and gas export, but the system failed to run as designed and was shut down frequently for maintenance.
The platform is capable of producing 269 MMsf/d, or gross production of worth $8.7 million per day, according to the company. On average, the facility was shut down for six unplanned days per year for cleaning, says CPOC, resulting in $52.2 million of lost production.
Important disclosures: The information provided herein is believed to be reliable; however, EnerCom, Inc. makes no representation or warranty as to its completeness or accuracy. EnerCom’s conclusions are based upon information gathered from sources deemed to be reliable. This note is not intended as an offer or solicitation for the purchase or sale of any security or financial instrument of any company mentioned in this note. This note was prepared for general circulation and does not provide investment recommendations specific to individual investors. All readers of the note must make their own investment decisions based upon their specific investment objectives and financial situation utilizing their own financial advisors as they deem necessary. Investors should consider a company’s entire financial and operational structure in making any investment decisions. Past performance of any company discussed in this note should not be taken as an indication or guarantee of future results. EnerCom is a multi-disciplined management consulting services firm that regularly intends to seek business, or currently may be undertaking business, with companies covered on Oil & Gas 360®, and thereby seeks to receive compensation from these companies for its services. In addition, EnerCom, or its principals or employees, may have an economic interest in any of these companies. As a result, readers of EnerCom’s Oil & Gas 360® should be aware that the firm may have a conflict of interest that could affect the objectivity of this note. EnerCom, or its principals or employees, may have an economic interest in any of the companies covered in this report or on Oil & Gas 360®. As a result, readers of EnerCom’s reports or Oil & Gas 360® should be aware that the firm may have a conflict of interest that could affect the objectivity of this report.