Mubadala Petroleum announced today that appraisal drilling and testing has confirmed the Pegaga discovery in Block SK320 offshore Malaysia as a substantial gas discovery with significant commercial potential.
A third discovery, Sirih-1, has also been confirmed from the 2013/14 exploration drilling program that has targeted a series of carbonate pinnacles within Block SK320. This adds to the Pegaga-1 and Sintok-1 discoveries announced previously, and the existing M5 discovery which Mubadala Petroleum successful appraised in 2012.
The Pegaga-2 appraisal well, which lies in 109m of water, was drilled to a total depth of 2685m and confirmed an 850m gas column. Testing of the main gas-bearing zones produced flow rates of 30-50MMcfd of good quality gas with condensate.
The Sirih-1 well, adjacent to the Sintok discovery, was drilled to a total depth of 3000m into the main target reservoir and penetrated a 293m gas column. Sirih-1 was plugged and abandoned as planned.
Maurizio La Noce, CEO of Mubadala Petroleum, said, “Validating the objectives of our exploration program and the quality of our organization, we are excited to confirm four gas discoveries in close proximity, including the original M-5 well success, all within the Mubadala Petroleum operated block SK320. Together these discoveries represent a very significant hydrocarbon resource, with the potential for a commercially attractive, integrated development. We are building up our team and will be working closely with our partners, PETRONAS Carigali and Shell, to evaluate all the options for commercializing the resources in the block in due course.”
Sintok-1 well was drilled to a total depth of 2775m into the main target reservoir and also penetrated a 290m gas column.
Mubadala Petroleum was appointed operator of Block SK320 on award in 2010 with a 55% ownership. Partners in the block are PETRONAS Carigali and Sarawak Shell Berhad with 25% and 20% stakes in the block, respectively.
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