Output At Malaysia’s Kikeh Oil Field May Peak End ’09-Source

According to CNN Money:

SINGAPORE -(Dow Jones)- Output at the Kikeh oil field, Malaysia's first deepwater field, may reach its maximum level by the end of 2009, one year later than originally scheduled, a person familiar with the matter said Thursday.

The field is currently producing about 40,000 barrels a day, and this may reach 80,000 barrels a day by the end of this year and 120,000 barrels a day by the end of next year, he said.

Production at the field, operated by U.S.-based Murphy Oil Corp. (MUR), started in August last year.

Murphy Oil has an 80% interest in the field, with Petronas Carigali Sdn Bhd holding the remainder. Petronas Carigali is a unit of Malaysia's state-owned Petroliam Nasional Bhd., or Petronas.

- The article did not mention what is going to happen after the oil production peaked in the oil field but using common sense and a little researching on the term "Peak Oil" you will know that it will start to decline in production gradually just like what happened in United States in the 1970s.
The rest of the world's biggest oil fields suffer their own "peak" in production and inevitably goes into decline, are you ready for renewable energy?

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