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 we were delighted when the well found approximately 400m of net gas and oil bearing sands of better reservoir quality than expected".
Mark Carne, Managing Director of BSP commenting on this historic milestone 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 million barrels from the whole of the Seria North Flank".
Speaking more broadly about BSP's achievements, Mark Carne noted that earlier this year BSP drilled a world record beating well in Seria Field called a "fish hook well". This name was given to the well because of its "U" shaped course following an uphill section of the underground strata to reach the target oil sands.
"The combination of today's announced discovery and the success of the fish hook well combine to offer an exciting future for the Seria Field. Using fish hook wells we will be able to develop part of the offshore Seria North Flank from a drilling rig located onshore, thereby maximizing the use of existing infrastructure and facilities. This shows that despite the maturity of Seria, our innovative engineers are breathing new life into the field," explained Mark Carne.
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.
The Seria Field was the first commercial field discovered in Brunei in 1929 in which the "Seria Shallow Marine North Flank" is an area of shallow waters ranging from 2 to 10 meters deep stretching about 20 kilometers along the length of the coastline. This coastal reservoir has achieved production successes in the past, including the discovery of significant oil and gas accumulations in the Anduki, Tali and Enggang fields that form part of the Seria Field.
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