09-01-2014, 09:53 PM
PNG Industry news
Monday, 1 September 2014
A FIVE-well campaign offshore Malaysia has finished up with a 100% hit rate, making a fifth discovery in the final Bakong-1 well in the SK408 production sharing contract.
The PSC is covered by the SapuraKencana joint venture, which consists of SKE as operator with 40%, Petronas with 30% and Sarawak Shell with 30%.
The latest discovery was of a gas column in excess of 600m in the primary target reservoir within the late Miocene carbonates.
“The drilling campaign for SK408 this year has been well executed and completed safely by the SKE team and has yielded exceptional results,” SepuraKencana president and CEO Tan Sri Dato said.
“This last well ranks as one of the larger discoveries in Malaysia this year and has doubled the resources found in the block to date.”
The previous four wells also discovered non-associated natural gas within the same Miocene reservoirs, with the five discoveries finding a total of 3 trillion standard cubic feet of gas in place.
All five wells have been suspended with the intention of completing as gas production wells in the future.
The JV intends to drill another five-well campaign in 2015, targeting additional significant potential and finishing off the work program exploration commitments.
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