Kuwait oil giant announces biggest ever gas discovery
Kuwait Foreign Petroleum Exploration Company reveals details of discovery in Malaysia.
Kuwait Foreign Petroleum Exploration Company (KUFPEC) on Wednesday revealed details of its largest ever gas discovery.
According to a release, the company said the discovery, which was made through its wholly owned subsidiary KUFPEC Malaysia (SK-410B) Limited, was proven by the Lang Lebah-2 appraisal well in the SK-410B Block, located approximately 90 kilometres offshore Sarawak, Malaysia.
The appraisal drilling campaign followed the successful drilling of the first exploration well, Lang Lebah-1RDR2, in the SK 410B Block, in 2019.
A statement said: "KUFPEC Malaysia (SK-410B) Limited holds a 42.5 percent working interest under the PSC, with Petronas Carigali Sdn. Bhd. and PTTEP HK Offshore Limited (as operator) holding 15 percent and 42.5 percent working interests, respectively."
It added: "The appraisal drilling in Lang Lebah-2 was completed at a total depth of 4,320 metres, with over 600 metres of proven net gas pay."
The well was tested and flowed at 50 million cubic feet of gas-per-day with a significant amount of gas in place, indicating a substantially larger reservoir than the initial estimate.
"This successful world-class gas discovery is a testament to our steadfast efforts to maximise the value to our shareholder by exploring for hydrocarbons in highly prolific basins," said KUFPEC CEO Shaikh Nawaf Saud Al-Sabah.
"KUFPEC played a strong and active role in maturing the prospect that led to a giant discovery. I am proud of our team," he added.
KUFPEC is an international upstream company engaged in exploration, development and production of crude oil and natural gas outside Kuwait and is a wholly owned subsidiary of Kuwait Petroleum Corporation (KPC).
Credit to www.arabianbusiness.com