Petronas Carigali Sarawak Bhd this week launched the first onshore oil production in Sarawak in 50 years via its SK408-P1 well within the SK10 concession close to Marudi. This pilot initiative aims to determine viable flow rates and trial enhanced-recovery methods before a potential full-scale development.
Initial production is expected at about 2,000 barrels per day from the sole appraisal well. In the coming months, Petronas plans to drill an additional four wells in SK10 to boost output to around 10,000 barrels daily. All produced crude will be conveyed via a 10-km pipeline to the Miri Central Processing Facility for stabilization prior to being shipped to domestic and export markets.
Discovered over a century ago, the SK10 field is estimated to hold 14 million barrels of recoverable oil but remained largely undeveloped. Petronas has allocated approximately RM1 billion to construct a compact surface facility, lay pipelines and implement water-alternating-gas injection to enhance recovery throughout the project’s anticipated 20-plus-year lifespan.
“This achievement opens a new era for onshore oil in Sarawak,” stated a Carigali representative. “We’re showcasing a cost-effective approach to developing mature fields while creating jobs and supporting local services.”
The Sarawak government, as a co-owner of the venture, noted that SK10’s revenue and job opportunities will advance the state’s energy-sector objectives and foster broader economic growth in the region.
📊 Miri Property Market Insight
The Miri real estate sector remains on an upward trajectory, fueled by new infrastructure developments, oil and gas industry activity, population expansion and rising demand for rental and resale properties. Monitoring current project launches, pricing trends and regulatory changes can assist buyers and investors in making well-informed choices.
💡 What This Means for Buyers & Investors
For homebuyers, Miri delivers a spectrum of offerings, from budget-friendly residences to luxury gated-and-guarded enclaves. Investors could achieve attractive rental returns in key locations like Marina, Permyjaya, Taman Tunku and downtown apartments. Fresh project debuts present further advantages with early-bird rates and developer incentives.
🔗 Useful Resources
- Latest Property For Sale in Miri
- Latest Property For rent in Miri
- New Project Launches in Miri
- Latest Land For Sale in Miri
- Property Agent in Miri
- Property Guides & Tips (Malaysia)
Note: This content was automatically sourced from reputable news agencies. It is intended for general information only. Always confirm project specifics, pricing and investment choices with authorized agents or official developers.
📈 Looking for Ways to Grow Your Savings?
After budgeting or planning your property expenses, explore smarter investing options like REITs and stocks for long-term growth.
📈 Start Trading Smarter with moomoo Malaysia →(Sponsored — Trade REITs & stocks with professional tools)

