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AsianOil: Petronas makes "significant" oil find off Malaysia

Malaysia’s Petronas has reported what it describes as a “significant” oil discovery at a well off the coast of Sarawak.

The find was made at the Nahara-1 well at Block SK306, some 150 km from Bintulu, where Malaysia’s main LNG export is located.

“The Nahara-1 well was successfully drilled to a total depth of 2,468 metres and encountered hydrocarbons in the Late Oligocene to Middle Miocene aged sedimentary sequences,” Petronas said. “Light oil with minimal contaminants was also established after production testing was conducted for the well.”

Petronas is the sole company involved in the project, with a 100% interest in the block. The company did not comment on the size of the discovery or whether appraisal or development plans were on the horizon.

“We are excited with this discovery and its impact on the future exploration effort in the surrounding areas,” Petronas’ vice president for exploration, Mohd Redhani Abdul Rahman, commented. “Nahara-1 is a significant oil discovery by PCSB within the last decade. It is a testament to the vast potential in Malaysia’s prolific basins, which remain highly prospective.”

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