Petronas RSC Framework
Performance-based agreements like the trail-blazing Berantai RSC have a keener, laser-like focus on production and recovery rates as compared with production-sharing contracts favoured by oil majors.
This emphasis on optimising production capacities in marginal fields can be extended to contracts governing recovery of main oilfields in an industry of rapidly depleting resources. Currently, Petronas’ recovery factor is about 26 per cent for main oilfields, which can be further improved with optimised production techniques and knowledge exchange.
|Framework for Marginal Field Risk Service Contracts