Shell Brunei makes new oil discovery

Brunei Shell Petroleum Co. Sdn Bhd (BSP) has discovered new oil in the Seria North Flank, a previously un-drilled part of the field.

The Schlumberger self-propelled multi-purpose vessel, the BIMA, drilled the well 3 km offshore in 8 m of water.

Hj Azhar bin Hj Yahya, Head of Near Field Exploration in BSP, said "We used the latest seismic technology to identify the high potential of this area and the well found approximately 400 million of net gas and oil bearing sands of better reservoir quality than expected."

Mark Carne, managing director of BSP said: "We regard this as a very important discovery because there are up to 20 similar structures in this area. If this success is replicated, we estimate total recoverable oil of up to 100 MMbbl from the whole of the Seria North Flank."

BSP is now proceeding with plans to fast-track further exploration, appraisal, and development of Seria's North Flank. Additional reserves will be booked once technically and economically matured project plans are approved.

10-07-04