KUALA LUMPUR: Petroliam Nasional Bhd's (Petronas) exploration have resulted in major oil and gas (O&G) discoveries offshore Sarawak, giving it a major boost as it targets over 50 exploration wells to be drilled offshore Malaysia in the next three years.
The national oil corporation said on Monday, Feb 14 it had made major O&G discoveries through the drilling of NC3 and Spaoh-1 wells in Blocks SK316 and SK306 offshore Sarawak.
It said the Spaoh-1 well of 3,000m drilling depth, located in Block SK306, shows similar promise. It was drilled in December 2010 and found both O&G.
'The preliminary evaluation indicates around 100 million barrels (mmstb) of oil and 0.2 trillion standard cubic feet (tscf) of gas in place, respectively. Currently, the well is being prepared for production testing,' it said.
In March 2010, a successful drilling of the NC3 wildcat well and a subsequent appraisal'' found 2.6 tscf of net gas in place.
'The wells were each drilled to a depth of almost 4,000 metres below sea level. Additionally, production flow test results of the wells demonstrate that the field is technically producible,' it said.
Petronas said these discoveries support its strategy to intensify exploration activities in Malaysia and is expected to further enhance exploration potential offshore Sarawak.
The national oil company expects over 50 exploration wells to be drilled offshore Malaysia by Petronas and its production sharing contractors over the next three years.
'These activities, especially if they result in discoveries, are expected to spur business opportunities in the O&G industry and will promote upstream investment in the country,' it said.
The national oil corporation said on Monday, Feb 14 it had made major O&G discoveries through the drilling of NC3 and Spaoh-1 wells in Blocks SK316 and SK306 offshore Sarawak.
It said the Spaoh-1 well of 3,000m drilling depth, located in Block SK306, shows similar promise. It was drilled in December 2010 and found both O&G.
'The preliminary evaluation indicates around 100 million barrels (mmstb) of oil and 0.2 trillion standard cubic feet (tscf) of gas in place, respectively. Currently, the well is being prepared for production testing,' it said.
In March 2010, a successful drilling of the NC3 wildcat well and a subsequent appraisal'' found 2.6 tscf of net gas in place.
'The wells were each drilled to a depth of almost 4,000 metres below sea level. Additionally, production flow test results of the wells demonstrate that the field is technically producible,' it said.
Petronas said these discoveries support its strategy to intensify exploration activities in Malaysia and is expected to further enhance exploration potential offshore Sarawak.
The national oil company expects over 50 exploration wells to be drilled offshore Malaysia by Petronas and its production sharing contractors over the next three years.
'These activities, especially if they result in discoveries, are expected to spur business opportunities in the O&G industry and will promote upstream investment in the country,' it said.
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