JX Nippon makes ‘significant’ oil discovery in Malaysia
Australian oil and gas company Santos has, together with its partners, made a “significant” oil discovery offshore Malaysia.
Santos has in an ASX filing today said that oil was discovered at the Bestari-1 well in the Deepwater Block R PSC, operated by Japan’s JX Nippon.
Block R is located offshore Sarawak, Malaysia in water depths ranging from 100 metres to 1,400 metres. The Bestari-1 well encountered 67 metres of net oil pay in multiple sand packages within the primary Miocene age formation at true vertical subsea depths ranging from 1,860m to 2,702m.
The oil bearing sands are of high quality with good porosity and permeability, Santos has said. Oil samples, recovered from wireline pressure and sampling tools, confirm 27-30 degree API Oil with no indication of H2S and negligible C02.
Santos completed the acquisition of a 20% interest in the Block R PSC from JX Nippon (27.5% and operator) and INPEX (27.5%) in January 2015. PETRONAS Carigali owns the remaining 25% interest.