Mubadala Petroleum Confirms Pegaga Discovery Off Malaysia

Mubadala Petroleum has announced that appraisal drilling and testing has confirmed the Pegaga discovery in Block SK320 offshore Malaysia as a substantial gas find with significant commercial potential.

A third discovery, Sirih-1, has also been confirmed from the 2013/14 exploration drilling program that has targeted a series of carbonate pinnacles within Block SK320.  This adds to the  Pegaga-1 and Sintok-1 discoveries announced previously, and the existing M5 discovery which Mubadala Petroleum successful appraised in 2012.

The Pegaga-2 appraisal well was drilled to a total depth of 2,685 meters and confirmed an 850 meter gas column.  Testing of the main gas-bearing zones produced flow rates of 30-50 million cubic feet per day of good quality gas with condensate.  Pegaga lies in 109 meters of water.

The Sirih-1 well, adjacent to the Sintok discovery, was drilled to a total depth of 3,000 meters into the main target reservoir and penetrated a 293 meter gas column. Sirih-1 was plugged and abandoned as planned.

Maurizio La Noce, CEO of Mubadala Petroleum, said, “Validating the objectives of our exploration program and the quality of our organization, we are excited to confirm four gas discoveries in close proximity, including the original M-5 well success, all within the Mubadala Petroleum operated block SK320.  Together these discoveries represent a very significant hydrocarbon resource, with the potential for a commercially attractive, integrated development. We are building up our team and will be working closely with our partners, PETRONAS Carigali and Shell, to evaluate all the options for commercializing the resources in the block in due course.”

Sintok-1 well was drilled to a total depth of 2,775 meters into the main target reservoir and also penetrated a 290 meter gas column.

Mubadala Petroleum was appointed operator of Block SK320 on award in 2010. Partners are: Mubadala Petroleum 55% (Operator), PETRONAS  Carigali 25% and Sarawak Shell Berhad 20%.

Press Release, June 23, 2014

 

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