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Shell Malaysia Announces Oil & Gas Discovery Offshore Sabah

Source: www.gulfoilandgas.com 1/18/2006, Location: Asia

Shell Malaysia announced that a Shell - Petronas Carigali - ConocoPhillips joint venture has made its fourth oil and gas discovery with their recent Pisagan-1A exploration well, located in Deepwater Block G, in waters offshore northwest Sabah, Malaysia. The Pisagan-1A exploration well encountered both oil and gas in the reservoir objective. The discovery well was drilled in a water depth of 1465 metres.

Datuk Jon Chadwick, Chairman of Shell Malaysia, said: “The Pisagan discovery, following so soon after our previously announced Ubah-2 discovery, is another positive step for Malaysia and for the Block G joint venture partners.”

Wouter Hoogeveen, Shell’s Vice President Exploration Asia-Pacific, added: “We are pleased to be able to announce our fourth successive deepwater oil and gas discovery offshore Sabah. The Pisagan-1A result builds on our previously announced material discoveries in the deepwater.”

The joint venturers in Block G are Shell Malaysia (35%), ConocoPhillips (East Malaysia) (35%) and Petronas Carigali (30%). Shell Malaysia is the operator of the Block on behalf of the joint venturers.

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