Petronas finds oil and gas off Sarawak coast

 

The discovery reinforces Petronas Carigali’s exploration strategy of focusing its exploration efforts in Malaysia’s basins. (AFP pic)

PETALING JAYA: Petronas’ wholly-owned subsidiary Petronas Carigali Sdn Bhd (PCSB) has discovered oil and gas at the Nahara-1 well in Block SK306, located in the shallow waters of Balingian province about 150km from Bintulu, off the coast of Sarawak.

The Nahara-1 well was successfully drilled to a total depth of 2,468 metres and encountered hydrocarbon in the Late Oligocene to Middle Miocene aged sedimentary sequences, Petronas said in a statement.

Light oil with minimal contaminants was also established after production testing was conducted for the well.

PCSB is the operator of the block, with 100% participating interest in its production-sharing contract.

Petronas vice-president of exploration Mohd Redhani Abdul Rahman said the company is excited with the discovery and its impact on the future exploration effort in the surrounding areas.

“Nahara-1 is a significant oil discovery by PCSB within the last decade. It is a testament to the vast potential in Malaysia’s prolific basins which remain highly prospective,” he said.

Mohd Redhani said that the discovery also reinforces PCSB’s current exploration strategy of renewing focus on its exploration efforts in Malaysia’s basins. - FMT