AFX Europe (Focus): Malaysia's Petronas-Shell jv makes 5th successive gas discovery: Wednesday Jul 06, 2005
KUALA LUMPUR (AFX) - CS Mutiara Petroleum Sdn Bhd said it has made another gas discovery at Block PM301, off the northeast coast of Peninsular Malaysia.
In a statement, the 50:50 joint venture company between Petronas Carigali Sdn Bhd and Shell Exploration and Production Malaysia BV said the Bunga Kesumba-1 well, 55 meters below sea level, was drilled to a total depth of 1,430 meters and encountered multiple gas zones.
Bumi Kesumba-1 is the fifth discovery in Block PM301, following the recent exploration success at Bunga Kamelia, Bunga Zetung, Bunga Anggerik and Bumi South, the company said.
The latest discovery is located about 15 kilometers southeast of the Bumi South gas field discovered in Feb 2005, it added.
It also said that, with the latest discovery, it has achieved a 100 pct success rate in its exploration campaign in Block PM301.
The company said it is currently conducting technical studies to access the development options for the gas discoveries.
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