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AFX News Limited: Shell Malaysia jv makes fourth oil & gas discovery in offshore Sabah: Wednesday 18 January 2006
KUALA LUMPUR (AFX) - Shell Malaysia said its joint venture with Petronas Carigali and ConocoPhillips has made its fourth oil and gas discovery at the Pisagan-1A exploration well, located in Deepwater Block G, in waters offshore northwest Sabah, Malaysia.
In a statement, the company said the Pisagan-1A exploration well, which was drilled to a depth of 1,465 metres, encountered both oil and gas in the reservoir.
'The Pisagan discovery, following so soon after our previously announced Ubah-2 discovery, is another positive step for Malaysia and for the Block G joint venture partners,' Shell Malaysia chairman Jon Chadwick said.
Separately, Shell's vice president for exploration in Asia Pacific Wouter Hoogeveen said the company is pleased to be able to announce its fourth successive deepwater oil and gas discovery offshore Sabah.
'The Pisagan-1A result builds on our previously announced material discoveries in the deepwater,' he added.
The joint venture companies in Block G are Shell Malaysia with a 35 pct stake, ConocoPhillips (East Malaysia) with 35 pct and Petronas Carigali with 30 pct.
Shell Malaysia is the operator of the Block on behalf of the joint venture partners.
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