Conocophillips Confirms Exit From Salam-Patawali Field

KUALA LUMPUR, April 30 (Bernama) -- United States (US) oil major ConocoPhillips has confirmed its exit from operating the Salam-Patawali deepwater oil and gas field, also known as Block WL4-00, off Sarawak’s coast. 

“ConocoPhillips has elected not to progress development of the WL4-00 project based solely on prioritisation within the company’s global portfolio,” it said in a brief statement today.  

The deepwater oil and gas field, discovered jointly with Petroliam Nasional Bhd (Petronas) in 2018, was developed under a 50:50 joint venture.

The withdrawal was first reported by a news outlet on April 15 and resurfaced recently, with reports indicating that the decision was part of a “country strategy review”, which the company did not elaborate on. 

-- BERNAMA