PETRONAS FINDS NEW OIL & GAS FIELDS
PETALING JAYA: Petronas has made major oil and gas discoveries through the drilling of NC3 and Spaoh-1 wells in Blocks SK316 and SK306 offshore Sarawak.
Itsaid that in March last year, drilling of the NC3 wildcat well and asubsequent appraisal well brought significant discovery for Petronas inBlock SK316 with early estimation of 2.6 trillion standard cubic feet(tscf) of net gas in place.
“Thewells were each drilled to a depth of almost 4,000 metres below sealevel. Additionally, production flow test results of the wellsdemonstrate that the field is technically producible.
“TheSpaoh-1 well of 3,000m drilling depth, located in Block SK306, showssimilar promise. It was drilled in December 2010 and found both oil andgas,” Petronas said in a statement.
Thenational oil company said preliminary evaluation indicates around 100million barrels of oil and 0.2 tscf of gas in place, respectively.Currently, the well is being prepared for production testing.
“Thesediscoveries support Petronas' strategy to intensify explorationactivities in Malaysia and is expected to further enhance explorationpotential offshore Sarawak.”
Inthe next three years, over 50 exploration wells are expected to bedrilled offshore Malaysia by Petronas and its production sharingcontractors.
“Theseactivities, especially if they result in discoveries, are expected tospur business opportunities in the oil and gas industry and willpromote upstream investment in the country,” it said.
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