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Malaysia Gumusut field starts to pump oil

SINGAPORE -- Malaysia has started pumping oil from the Gumusut deepwater oilfield off the eastern state of Sabah, Reuters reported on its website, citing unnamed people familiar with the matter.

The oilfield has an initial output of 10,000 bopd, which is expected to rise to 25,000 bopd by the end of this year, Reuters reported. By 2013-2014, production at Gumusut will reach full capacity at 135,000 bopd. Shell and ConocoPhillips each have a 33% stake in the project each, with Petronas and Murphy holding 20% and 14% stakes, respectively.

Dow Jones Newswires

09/13/2012

 

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