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.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
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.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Petrofac Suspends Group Chief Operatin... (May 25)
 -  EnQuest On Track For Kraken First Oil ... (May 25)
 -  Energean Signs Lease Agreement for Exp... (May 25)
 -  Seadrill CEO Praises Workforce (May 24)
 -  Serinus Shuts-In Sabria Field Due to S... (May 23)


Most Popular Articles

From the Career Center
Jobs that may interest you
Field Specialist
Expertise: Field Development|Field Service Tech
Location: Dickinson, ND
 
Field Technician Intern
Expertise: Field Development
Location: Charlotte, NC
 
United States Rock Springs: Entry Level to Senior Field Engineer - Logging
Expertise: Petroleum Engineering
Location: Rock Springs, WY
 
search for more jobs

Brent Crude Oil : $51.46/BBL 4.63%
Light Crude Oil : $48.9/BBL 4.78%
Natural Gas : $3.18/MMBtu 0.90%
Updated in last 24 hours