Project Profile
Value: Undisclosed
Location: offshore East Malaysia
Reserves: unknown
Area: 672 km2
Depth: 100 metres - 1,400 metres
Start-up Year: -
The Deepwater Block R is a deepwater block located offshore East Malaysia with a surface area of approximately 672 km2 and water depth ranging from 100 metres - 1,400 metres. Large reserves of oil have been discovered in neighbouring blocks in recent years. After the acquisition of the Block in January 2012, a three-dimensional seismic survey and geological and geophysical studies were conducted as pre-drilling evaluation work. JX Deepwater Sabah, together with its joint venture partners, continues to conduct exploration activities in the Block and 3 wildcat wells are scheduled to be drilled in 2015.
JX Nippon Oil & Gas Exploration Corporation through its wholly owned subsidiary, JX Nippon Oil & Gas Exploration (Deepwater Sabah) Limited (JX Deepwater Sabah) is the operator of Deepwater Block R, offshore East Malaysia (the Block) holding 37.5% participating interest in the Block. The company has farmed out 10% participating interest to Santos Sabah Block R Limited, a wholly owned subsidiary of Santos Limited, a major Australian oil & gas exploration and production company. INPEX Offshore South West Sabah, Limited (INPEX South West Sabah), a wholly owned subsidiary of INPEX Corporation and joint venture partner in the Block, has also farmed out 10% participating interest to Santos Sabah Block R Limited from its existing 37.5% participating interest. As a result of these 2 farmout transactions, the participating interest of each partner in the Block became JX Deepwater Sabah 27.5%, INPEX South West Sabah 27.5%, PETRONAS Carigali Sdn. Bhd (a wholly owned subsidiary of PETRONAS) 25.0% and Santos Sabah Block R Limited. 20.0% respectively.
Operators:
JX Nippon Oil & Gas Exploration Corporation (through wholly owned subsidiary JX Deepwater Sabah): Operator with 27.5% interest
INPEX South West Sabah (wholly owned subsidiary of INPEX Corporation): 27.5% interest
PETRONAS Carigali Sdn. Bhd (a wholly owned subsidiary of PETRONAS): 25% interest
Santos Sabah Block R Limited (subsidiary of Santos): 20% interest