From Bernama – Optimisation Important for Profitability in Oil & Gas


Dateline 2011-03-16:

The employment of optimising techniques and technologies that are cost efficient to safeguard profitability is crucial in the oil and gas sector, in particular with regard to the risk service contract (RSC).

he employment of optimising techniques and technologies that are cost-efficient to safeguard profitability is crucial in the oil and gas sector, in particular with regard to the risk service contract (RSC). 

The RSC is essentially a contract that significantly increases an operator’s risks of exposure, said ARC Media Global Pte Ltd in a statement today, in conjunction with the Production Optimisation Week Asia in Kuala Lumpur from July 25-29.

In this case, the awardees or the consortium bears almost all the operating risks and is not paid in the event that the project or system fails, ARC Media Global explained.

The optimising of production becomes more pertinent with the RSC to develop the Berantai field as Petronas imposes strict key performance indicators on deliverability, production and costs, it pointed out.

Petronas awarded a RSC to a consortium comprising Kencana Petroleum Bhd, SapuraCrest Petroleum Bhd and foreign partner Petrofac.

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