Murphy Studies Options for 2 Wells Off Sarawak, Farms-in to Vietnam Block
Murphy Oil Corp. revealed that it has successfully drilled two exploration wells offshore Sarawak, Malaysia, with the firm now evaluating development options for these finds, the company said when releasing its quarterly results Wednesday.
"The company successfully drilled both the Merapuh 5 and Marakas wells with positive results and is continuing to evaluate development options," Murphy said in a press release.
The firm however failed to encounter commercial quantities of hydrocarbons at the Paus-Kelasa well, which was expensed as a dry hole during the quarter.
Elsewhere in Southeast Asia, Murphy has reached an agreement with PetroVietnam Exploration Production Corporation (PVEP) and SK Innovation Co. Ltd. (SK) to farm-in to the 15-1/05 Production Sharing Contract (PSC), in the highly prospective, oil prone, Cuu Long Basin, Offshore Vietnam. Murphy will hold a 35 percent working interest in the PSC.
Murphy reported that oil discoveries previously made in the PSC are currently under appraisal and operator PVEP recently completed the successful drilling and testing of well LDV-4X in two zones and is currently incorporating these well results into the resource assessment of the block.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Exxon Mobil Bets on Brazil, Buys 10 Oil Blocks in Auction (Sep 28)
- Murphy Oil CEO: Now is the Time for Deepwater to Come Back (May 02)
- Pilot Energy Inks Deal to Acquire Murphy's Stake in Permit WA-481-P Off WA (Jul 27)
Company: PetroVietnam more info
- Vietnam Court Sentences to Death PetroVietnam Ex-Chairman in Mass Trial (Sep 29)
- Asia Oil Refinery Delays Favor Producer Case for Extending Output Cuts (May 22)
- Vietnam's Sole Refinery Plans to Sell 5-6 Pct Stake in IPO in Q4 (May 22)