Profit after tax (PAT) for 1Q20 stood at RM4.5 billion (US$1.03 billion), 68% lower than the RM14.2 billion posted in 1Q19.
Drilling & production - 22 May 2020
Shell is the operator of the block with a 45% stake, along with Chevron, also at 45%, and Ecopetrol, with 10%.
Saad al-Kaabi, the company's Chief Executive, said he expected oil demand to recover to pre-crisis levels only within a year or two.
The Penglai 19-3 oilfield area 4 adjustment/Penglai 19-9 oilfield phase II project is expected to reach its peak production of approximately 15 681 bpd in 2022.