INPEX Discovers Oil in Deepwater Block R Offshore East Malaysia

Source: www.gulfoilandgas.com 4/7/2015, Location: Asia

INPEX CORPORATION (INPEX) announced an oil discovery at the Bestari-1 exploration well in Deepwater Block R (the Block) where preliminary findings point to an approximately 70m column of oil-bearing sands across multiple horizons. The company has a participating interest in the Block through its wholly-owned subsidiary, INPEX Offshore South West Sabah, Ltd.

The Block located offshore East Malaysia covers an area of 672km2 with a water depth ranging from 100m to 1,400m. INPEX currently owns a 27.5% participating interest in the Block, where it conducts exploration activities alongside operator JX Nippon Oil & Gas Exploration (Deepwater Sabah) Limited, PETRONAS CARIGALI Sdn. Bhd., a wholly-owned subsidiary of Petronas, and Santos Sabah Block R Limited, which own participating interests of 27.5%, 25% and 20%, respectively.

Moving forward, INPEX and its partners will analyse and evaluate the data retrieved from the well, and proceed with plans to drill two exploratory wells to assess the possibility of new oil and natural gas deposits.

Japan Oil, Gas and Metals National Corporation (JOGMEC) is to cover up to 50% of exploration expenditures incurred by INPEX Offshore South West Sabah, Ltd. Through equity capital.


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