KUALA LUMPUR: Petronas Carigali Sdn Bhd, the exploration and production arm of Petroliam Nasional Bhd (Petronas), has made a significant oil discovery via the Wakid-1 well within Block 2G-2J, about 100km northwest of Kota Kinabalu.
Current preliminary estimates of reserves from this discovery are at 227 million barrels of oil with expected upside potential, Petronas said in a statement yesterday.
The group said three production tests were conducted in three different reservoirs with the oil flowing at a combined maximum rate of 8,200 barrels per day.
The well reached a total vertical depth of 3,300m and confirmed the presence of significant oil and some gasbearing reservoirs.
According to the statement, Wakid-1 is the second well drilled in Block 2G-2J since the award of the production sharing contract (PSC) in October 2010. The block’s first well, Tambuku-1, was drilled earlier this year with only a minor gas discovery.
According to the statement, Petronas Carigali is the sole equity holder of the PSC for the block.
This article appeared in The Edge Financial Daily, November 16, 2011.
Current preliminary estimates of reserves from this discovery are at 227 million barrels of oil with expected upside potential, Petronas said in a statement yesterday.
The group said three production tests were conducted in three different reservoirs with the oil flowing at a combined maximum rate of 8,200 barrels per day.
The well reached a total vertical depth of 3,300m and confirmed the presence of significant oil and some gasbearing reservoirs.
According to the statement, Wakid-1 is the second well drilled in Block 2G-2J since the award of the production sharing contract (PSC) in October 2010. The block’s first well, Tambuku-1, was drilled earlier this year with only a minor gas discovery.
According to the statement, Petronas Carigali is the sole equity holder of the PSC for the block.
This article appeared in The Edge Financial Daily, November 16, 2011.
