Petrofac has a 50% interest in the contract with partners Kencana Energy and Sapura Energy, both of which hold a 25% interest.
The Berantai partners will develop the field and will subsequently operate the field for a period of seven years after first gas production.
As part of the fast-track development, a wellhead platform will be installed to support the drilling of eighteen wells, with a second wellhead platform expected to be installed in a subsequent phase.
Both platforms will be connected to a Floating Production Storage and Offloading (FPSO) vessel which will be jointly owned by the Berantai partners.
The produced gas will be exported by subsea pipeline via the Angsi Field, while oil will be offloaded through shuttle tanker.
The project is targeting first gas by end of December 2011 with the first phase wells expected to be completed during 2012.
The full field development costs, excluding delivery of a floating production storage and offloading vessel, is estimated at $800m, of which Petrofac’s share is 50%.
