Located in waters up to 1,200m deep, the Shell-operated Gumusut-Kakap field could reach an annual peak oil production of around 135,000 barrels a day.
Currently, work is underway on the gas injection facilities with an expected start-up during 2015.
Shell Upstream International director Andrew Brown said: "Gumusut-Kakap is our first deep-water development in Malaysia, and uses the best of Shell’s global technology and capabilities in deep water.
"The field is one of a series of substantial deep-water start-ups this year, driving returns and growth for shareholders."
The Gumusut-Kakap project is a joint venture between Shell (33%), ConocoPhillips Sabah (33%), Petronas Carigali (20%) and Murphy Sabah Oil (14%).
The oil produced at the platform will be transported through a 200km-long pipeline to the Sabah Oil and Gas Terminal onshore at Kimanis, Malaysia.
Shell Malaysia chairman Iain Lo said: "Deep-water resources are critical to Malaysia’s long-term energy security. The Gumusut-Kakap field is expected to contribute up to 25% of the country’s oil production."
