AFX Europe (Focus): Shell finds more oil in Brunei: “"We regard this as a very important discovery because there are up to 20 similar structures in this area. If this success is replicated we estimate total recoverable oil of up to 100 mln barrels from the whole of the Seria North Flank," said Mark Carne, managing director Brunei Shell Petroleum Co. (ShellNews.net)

Posted 7 Oct 2004

LONDON (AFX) - The Royal Dutch/Shell Group said it discovered more oil in the Seria North Flank field in Brunei.

It found "approximately 400 metres of net gas and oil bearing sands of better reservoir quality than expected" in the well it drilled on the field.

"We regard this as a very important discovery because there are up to 20 similar structures in this area. If this success is replicated we estimate total recoverable oil of up to 100 mln barrels from the whole of the Seria North Flank," said Mark Carne, managing director Brunei Shell Petroleum Co.

Shell is aiming to fast-track the exploration, appraisal and development work on North Flank and additional reserves will be booked once plans are approved, he said.

The Seria field was the first commercial field discovered in Brunei in 1929.

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