By Siti Radziah Hamzah
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.
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