Dialog’s RAJA Cluster devt plan secures Petronas approval, US$81 mln FID
KUCHING (September 22): Dialog Group Bhd’s (Dialog) field development and abandonment plan (FDAP) for the RAJA Cluster Small Field Asset Production Sharing Contract (RAJA SFA PSC) has achieved final investment decision (FID) amounting to US$81 million. In a Bursa filing, the group said the FDAP had been approved by Petroliam Nasional Bhd (Petronas) on Monday [...] The post Dialog’s RAJA Cluster…
Dialog Group Bhd’s (Dialog) RAJA Cluster Small Field Asset Production Sharing Contract (RAJA SFA PSC) has secured final investment decision (FID) approval from Petronas, amounting to US$81 million. The 14-year contract, signed on December 5, 2024, includes a two-year pre-development phase. Following the implementation of 3D seismic data reprocessing, feasibility studies, and resource assessments, Dialog Resources determined the asset’s feasibility and commercial viability, establishing a field development and abandonment plan.
The development will utilize Dialog’s cost-effective Tarpon platform system for marginal field depths under 100 meters. The project is expected to yield approximately 6.1 million stock tank barrels (MMSTB) of estimated 2P reserves. With a development cost of US$81 million, translating to US$13.3 per barrel of 2P reserves, Dialog anticipates first commercial production by the end of the two-year development phase, around September 2028.
The project is projected to enhance Dialog’s upstream portfolio and provide positive earnings growth in future financial years.
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