In a JV exploration project, Malaysia-based Petronas and Sweden-based Lundin Petroleum AB have discovered an oilfield with estimated reserves of 64 million barrels off north-eastern Malaysia. The field is located offshore, about 160 km northeast of Kuantan in the state of Pahang, at a depth of 76 metres. Crude oil production is slated to begin by end-2014 with a projected output of 17,500 to 20,000 barrels per day.