Thursday, 27 March 2014

Shahril: Berantai is a model project

The successful development of the Berantai marginal oil field, located off Terengganu, can be a good model that be replicated in other similar projects, according to its developer.

SapuraKencana Petroleum Bhd and London Stock Exchange-listed Petrofac were awarded the first risk service contract (RSC) by Petronas to develop the Berantai cluster in early 2011. It was reported that the first RSC has been producing since October 2012.

SapuraKencana Petroleum Bhd president and group chief executive officer Tan Sri Shahril Shamsuddin (pic) said the Berantai project was an example of how integrated services worked.

“We believe that being a single point of contact for customers, is a very strong proposition for the company,” he said at the luncheon talk of the Offshore Technology Conference Asia 2014.

He said by using the integrated services approach in handling projects, those that typically took five years could be executed in 18 months and became fully functional within 24 months.

“In the case of Berantai, we are able to deliver results safely, on time and almost under budget,” he said.

While he acknowledged the importance of technology in enabling projects to be executed in a more efficient, faster and safer manner, he also emphasised on the importance of talents, who enabled the execution of projects.

At the executive panel discussion, Shahril raised the question of whether industry practice became safer as more layers of precautionary steps were introduced and whether industry players understood the problems that they tried to solve.

He also pointed out that the costs of developing smaller fields should make economic sense.

SapuraKencana morphed into a full-fledge engineering, procurement, construction, installation and commissioning player when SapuraCrest Petroleum Bhd merged with Kencana Petroleum Bhd in 2011.