Project Profile
Value: Undisclosed
Location: 50 miles offshore Sarawakin, island of Borneo, Malaysia
Reserves: 1.5 – 3.0 Tcf
Area: 1.1 million acres
Water Depth: 250 feet
Start-up Year: -
Newfield Exploration Company made a significant natural gas discovery on the Block SK 310 Production Sharing Contract (PSC) area, located 50 miles offshore Sarawakin in the island of Borneo, Malaysia, approximately 250 feet of water. This is the company\'s second pinnacle reef natural gas discovery in the region. The B-14 well encountered 1,800 feet of gross column and 1,585 feet of net natural gas pay in the main carbonate objective. A drill stem test was recently conducted, which confirmed commerciality of the reservoir. Newfield estimates that Gas Initially In Place (GIIP) ranges from 1.5 – 3.0 Tcf. Newfield operates Block SK 310 with a 30% interest. Partners Diamond Energy Sarawak, a wholly-owned subsidiary of Mitsubishi Corporation and PETRONAS Carigali has 30% and 40% interests, respectively. The B-14 discovery is located less than three miles from Newfield\'s first pinnacle reef gas discovery, B-15, also located on Block SK 310 in approximately 250 feet of water. Recoverable reserves on this discovery are estimated at approximately 265 Bcf and will be developed in conjunction with the B-14 discovery. Block SK 310 covers approximately 1.1 million acres. Newfield has identified additional prospects on the contract area with multi-Tcf of remaining gas resource potential. Newfield has committed to drill one remaining exploration well (B-17 prospect) on Block SK 310. In February 2014, SapuraKencana Petroleum took over operatorship and interest from Newfield Exploration Company.
Operators:
SapuraKencana Petroleum: Operator with 30% interest
Diamond Energy Sarawak (wholly-owned subsidiary of Mitsubishi Corporation): 30% interest
PETRONAS Carigali: 40% interest