Petronas announces second gas discovery in Baram province

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) today announced a gas discovery from its Nangka-1 wildcat exploration well in Block SK417, located in the shallow waters of Baram province about 180 kilometres off the coast of Sarawak.

The Nangka-1 well was successfully drilled to a total depth of 3,758 metres in September 2021.

"The sweet gas was discovered in the Middle to Late Miocene Cycle VI clastic reservoirs, further validating the hydrocarbon potential in the surrounding areas," Malaysia's fully integrated petroleum corporation said in a statement.

PTTEP HK Offshore Ltd is the operator for Block SK417 with 80 per cent participating interest, while Petronas Carigali Sdn Bhd holds the remaining 20 per cent.

The block was awarded in March 2018 following the Malaysia Bid Round 2017.

Petronas senior vice president of Malaysia petroleum management, Mohamed Firouz Asnan, said the success of Nangka-1 well marks the second gas discovery within the Baram Province this year.

"The finding of contaminant-free gas in Nangka-1 reaffirms sweet gas opportunities within the area, and subsequently upgrades Baram clastics play.

"This second gas find further reinvigorates the Baram Province, which is part of the established Baram Delta region, signalling potential for more discoveries in the neighbouring acreages. The availability of existing facilities within the region will allow the petroleum arrangement contractors (PACs) to monetise their discoveries quicker and cheaper through tie-back solutions," he added.

In February this year, Petronas announced a new gas discovery in the Dokong-1 wildcat exploration well in the same block of the Baram Province.

For more information on investment opportunities in Malaysia, visit https://www.petronas.com/mpm/.

-- BERNAMA