PCSB operates Block SK306 with a 100% stake. Credit: Shaun Undem from Pixabay.

Petronas’ wholly-owned subsidiary Petronas Carigali Sdn Bhd (PCSB) has made an oil and gas discovery in Block SK306 offshore Malaysia, following the drilling of the Nahara-1 well.

Block SK306 is located in the shallow waters of the Balingian Province approximately 150km from Bintulu, off the coast of Sarawak.

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Drilled to a total depth of 2,468m, the Nahara-1 well encountered hydrocarbons in the Late Oligocene to Middle Miocene aged sedimentary sequences.

Following production testing of the well, light oil with minimal contaminants was also established.

PCSB operates Block SK306 with a 100% stake in its Production Sharing Contract.

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Petronas exploration vice-president Mohd Redhani Abdul Rahman said: “We are excited with this discovery and its impact to the future exploration effort in the surrounding areas. 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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Rahman said the latest finding supports PCSB’s exploration strategy, which calls for renewing focus on Malaysia’s basins exploration.

PCSB recently announced the final investment decision for the proposed Kasawari carbon sequestration project, located in Block SK316 offshore Sarawak.

The project is expected to reduce 3.3 metric tonnes of CO₂ emitted via flaring per year and contribute to Petronas’ plan to achieve a net-zero emissions goal by 2050.

The engineering, procurement, construction, installation and commissioning contract for the Kasawari project was awarded to Malaysia Marine and Heavy Engineering (MMHE).