Petronas unit makes oil discovery offshore Sabah

Jul 19, 2000 02:00 AM

Malaysia's Petronas said its wholly-owned unit, Petronas Carigali, has made an oil discovery off the shore of Sabah, a Malaysian state in Borneo. Production at the new oil field is likely to begin soon because of its proximity to Petronas' current facilities, the company said.
The oil field discovery was made from the Alab-1 wildcat well in the Samarang-Asam Paya PSC, located 50 km north-north-east of Labuan and 140 km south-south-west of Kota Kinabalu in a water depth of 54 metres, the statement said. "Alab-1 was spudded on May 22 and was drilled to an aggregate depth of 3,724 metres (metres) on June 22, encountering five oil-bearing sand layers. Production test carried out on one zone flowed oil at the rate of 4,700 bpd," it added.
The discovery is now being evaluated and further exploration activities including new seismic data acquisition and appraisal drillings are planned. Due to its proximity to the Samarang oil field, Petronas Carigali is targeting early commencement of development and production from the new field.
Petronas Carigali holds 100 % equity in the Samarang-Asam Paya PSC, which was signed in March 1995. The Samarang PSC has a contract term of 25 years expiring on March 31, 2020. Alab-1 is the first series of exploration wells being drilled this year by Petrona's Carigali in its domestic exploration acreage in Malaysia.

Source: Bridge News via Newspage
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