Malaysia’s Petronas could walk away from its 45% operating stake in Iraq’s 100,000 b/d Gharaf field, the firm’s CEO told the Energy Intelligence Forum this week.
“Under the $40/B scenario [ie current oil prices]… we’ve had to trigger a review of our intent to stay on in Gharaf,” says CEO Tengku Muhammad Taufik Tengku Aziz. “We are in consultation with the host authorities to see whether the economics can be improved, but of course, over and above that, we need to make sure it makes sense from a sustainability lens as well.” (CONTINUED - 152 WORDS)