Murphy Oil Announces Additional Discoveries In Malaysia

abarrelfullabarrelfull wrote on 18 Apr 2014 05:35

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Jun. 12, 2009

Murphy Oil Corporation (NYSE:MUR) has made two additional discoveries on its acreage offshore Malaysia. The first discovery was made at the Siakap North prospect located in Block K, offshore Sabah, Malaysia. The Siakap North discovery is located 6 miles from Murphy’s Kikeh field in approximately 4,300 feet of water. The well encountered oil bearing pay sands of a similar age and quality as Kikeh. Development options including a tieback to Kikeh are being evaluated. Murphy holds an 80% working interest and serves as operator. PETRONAS Carigali Sdn. Bhd., the wholly owned exploration and production arm of PETRONAS, holds the remaining 20%.

The second discovery was at the East Patricia prospect located in Block SK 309, offshore Sarawak, Malaysia. The well found approximately 230 feet of net natural gas pay and was drilled in 89 feet of water. East Patricia is located 23 miles from the Bintulu onshore gas receiving facility currently under construction for the sanctioned Sarawak natural gas development. Murphy maintains a 60% working interest and serves as operator. PETRONAS Carigali Sdn. Bhd. holds the remaining 40%.

“We are pleased with the well results and hope to tie these discoveries into our nearby major fields in the future,” stated David M. Wood, President and Chief Executive Officer. “These successes should contribute nicely to the continued growth of our Southeast Asian operations,” he also added.

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