Petronas’ exploration and production arm, Petronas Carigali Sdn Bhd, has made a significant oil discovery offshore Sabah.

In a statement today, Petronas said the discovery was made via the Wakid-1 well within Block 2G-2J, about 100km north-west of Kota Kinabalu.

The well was spudded on May 30, 2011 and was completed on July 4, 2011.

The national oil corporation said it reached a total vertical depth of 3,330m and confirmed the presence of significant oil, and some gas-bearing, reservoirs.

“Three production tests were conducted in three different reservoirs which flowed oil at a combined maximum rate of 8,200 barrels per day.

“Current preliminary estimation of the hydrocarbon-in-place from this discovery is 227 million barrels of oil equivalent (mmboe), with expected upside potential,” Petronas said.

Petronas Carigali plans to further appraise the discovery in the near future.

Wakid-1 is the second well drilled in Block 2G-2J since the award of its production sharing contract (PSC) in October 2010.

The block’s first well, Tambuku-1, was drilled early this year, but yielded only minor gas discovery.

Petronas Carigali is the sole equity holder of the PSC for the block.

- Bernama