Oil and gas exploration and production firm Mubadala Petroleum reported that the Pagaga-2 appraisal well has confirmed an 850m gas column in Block SK320 offshore Malaysia.

The company also confirmed the Sirih-1 discovery, the third from its 2013-14 exploration programme targeting a series of carbonate pinnacles within Block SK320.

It includes the Pegaga-1 and Sintok-1 discoveries previously reported, as well as the existing M5 discovery that the company appraised in 2012.

The Pegaga-2 well was drilled to a total depth of 2,685m and a test of the main gas-bearing zones produced 30 million cubic feet to 50 million cubic feet per day of good-quality gas with condensate.

The Sirih-1 well was drilled to a total depth of 3,000m and penetrated a 293m gas column within the target reservoir. The well was plugged and abandoned as planned.

"We are building up our team and will be working closely with our partners, PETRONAS Carigali and Shell, to evaluate all the options for commercialising the resources in the block in due course."

The Sintok-1 well was drilled to a total depth of 2,775m and penetrated a 290m gas column.

Mubadala operates the Block SK320 with 55% stake while Petronas Carigali and Sarawak Shell Berhad hold 25% and 20% respectively.

Mubadala Petroleum CEO Maurizio La Noce said: "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 commercialising the resources in the block in due course."

Mubadala manages assets and operations in 12 countries with a primary geographic focus on the Middle East, Africa, Central Asia and South East Asia.

The company’s working interest production in 2013 was approximately 387,000 barrels of oil equivalent per day.

Energy