Tuesday, November 15, 2011

Petronas makes significant oil discovery offshore Sabah

KUALA LUMPUR (Nov 15): Petroliam Nasional Bhd's exploration and production arm Petronas Carigali Sdn Bhd has made a significant oil discovery offshore Sabah.

In a statement Tuesday, Nov 15, Petronas said the discovery was made via the Wakid-1 well within Block 2G-2J, about 100km northwest of Kota Kinabalu.

Petronas said preliminary estimates placed reserves at the discovery at 227 million barrels of oil equivalent, with expected upside potential.

Three production tests were conducted in three different reservoirs which flowed oil at a combined maximum rate of 8,200 barrels per day, it said.

The national oil company said Petronas Carigali plans to further appraise the discovery in the near future.

Wakid-1 is the second well drilled in Block 2G-2J since the award of its Production Sharing Contract (PSC) in October 2010.

The block's first well, Tambuku-1, was drilled early this year, but yielded only minor gas discovery.


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