Newfield finds new gas offshore Sarawak

Offshore staff

THE WOODLANDS, Texas – Newfield Exploration Co. (NYSE: NFX) has a natural gas discovery in the block SK 310 production sharing contract 50 mi (80 km) offshore Sarawak in approximately 250 ft (76 m) of water.

The B-14 well encountered 1,800 ft (549 m) of gross column and 1,585 ft (483 m) of net natural gas pay in the main carbonate objective. A drillstem test has confirmed commerciality of the reservoir. Newfield estimates that gas initially in place (GIIP) ranges from 1.5 – 3.0 tcf.

This is Newfield's second pinnacle reef natural gas discovery in the region and is less than 3 mi (4.8 km) from the first pinnacle reef gas discovery, B-15, also on block SK 310. Recoverable reserves here are estimated at approximately 265 bcf and will be developed in conjunction with the B-14 discovery.

Newfield operates block SK 310 with a 30% interest. Partners Diamond Energy Sarawak, a wholly owned subsidiary of Mitsubishi Corp. and Petronas Carigali, have 30% and 40% interests, respectively.

“This is the largest conventional exploratory success that Newfield has made in its 25-year history,” said Lee K. Boothby, Newfield chairman, president and CEO. “Recent amendments to gas terms in Malaysia make natural gas developments economically competitive with oil developments. We have multiple ‘reef’ prospects to test along trend, and additional drilling is expected to resume in the third quarter with the drilling of our B-17 prospect.

“In December 2012, we signed a new PSC for block SK 408 and completed farming into block SK 319. Both PSCs are in offshore Sarawak. These areas provide a combined 1.7 million acres (6,880 sq km) and nearly double our acreage position offshore Malaysia. These blocks extend our successful pinnacle reef trend providing dozens of high-potential exploration targets, located in and around producing fields with existing infrastructure and pipelines in place.”

Block SK 408 covers 1.1 million acres (4,452 sq km) in water depths ranging from 200 – 400 ft (61 – 1122 m). The company has a 10-well commitment on the block over a three-year initial exploration period.

Newfield will operate the block with a 40% interest. Other partners include Shell (30%) and PETRONAS Carigali (30%).

Block SK 319 is adjacent to block SK 408. Water depths are 300 ft (94 m) or less. Newfield has identified several exploration prospects in the block and has a five-well commitment over an initial three-year exploration period. Block SK 319 is operated by Shell (50%). Newfield and Petronas Carigali each hold a 25% interest

4/04/13

Related Articles

Sharp drop expected in Norway offshore investments

Jan 18, 2015

High costs and lower oil prices could drive necessary readjustments that will strengthen Norway’s petroleum industry, according to the Norwegian Petroleum Directorate (NPD).

UK offshore production up, exploration declining

Jan 17, 2015

Activity levels in the UK and Norwegian offshore sectors continue to diverge strongly, according to the latest review from Hannon Westwood (HW).

Gazprom Neft expands Arctic presence

Jan 16, 2015

Gazprom Neft subsidiary Gazpromneft Sakhalin has received subsoil-use rights to two license blocks in the Russian Arctic.

BSEE solicits oil spill response research projects

Jan 16, 2015

The Bureau of Safety and Environmental Enforcement (BSEE) is soliciting proposals for oil spill response research projects and will invest up to $6 million to support these projects in 2015.

New year offers opportunity for political leadership on energy

Jan 15, 2015

After a year of seemingly endless political gridlock on the energy front, we at the National Ocean Industries Association are hopeful that 2015 will bring actual results, not just rhetoric.

Trending News

Statoil makes eighth discovery in block 2 offshore Tanzania

Mar 30, 2015

Statoil’s Mdalasini-1 exploration well has resulted in a new natural gas discovery offshore Tanzania.

Keppel delivers second newbuild jackup to PEMEX

Mar 30, 2015

Keppel FELS Ltd. has delivered the Kukulkan jackup rig to Mexican national oil company, PEMEX, safely, on time, and on budget. 

2H Offshore to provide engineering analysis for Johan Sverdrup offshore Norway

Mar 30, 2015

Statoil has contracted 2H Offshore to provide tieback conductor, platform conductor, and surface riser engineering analysis on the Johan Sverdrup field in the Norwegian sector of the North Sea. 

Valiant Driller moves from Indonesia to India site

Mar 30, 2015

Valiant Driller, owned by Jackup Drilling Pte. Ltd., has completed transportation from Indonesia on the COSCO heavy-lift vessel Xian Yun kou, following a float-on operation at the Port of Batu Ampar, Batam, Indonesia. 

ExxonMobil turns on Hadrian South taps in the deepwater GoM

Mar 30, 2015

ExxonMobil Corp. has commenced production in the deepwater Gulf of Mexico at Hadrian South with facilities tied-back to the nearby Lucius project.

  Offshore
Digital Magazine
Look Inside
Cover
Current Issue

Oil & Gas Jobs

Search More Job Listings >>