BHP, Petronas to explore ultra deepwater off Borneo

Offshore staff

KUALA LUMPUR --BHP Billiton Ltd. and Petronas Carigali Sdn. Bhd. have committed to spend $156.4 million to explore Malaysia's ultra deepwater blocks N and Q in 1,600 - 2,800 m (5,249 - 9,186 ft) water depths.

The spending includes $144 million to shoot 1,500 sq km (579 sq mi) of 3D seismic and to drill four wells in the 3,910 sq km (1,510 sq mi) block N. Some $12.4 million is earmarked for 800 sq km (309 sq mi) of 3D seismic on the 4,748 sq km (1,833 sq mi) block Q.

The work is expected to take seven years to complete. The area is thought o be similar to the deepwater discoveries of Kikeh, Malikai, Gumusut Kakap and Ubah.

3/23/2007