Petronas-Shell JV Makes Another Gas Discovery

CS Mutiara Petroleum Sdn Bhd (CS Mutiara), a 50:50 joint venture company between PETRONAS Carigali Sdn Bhd and Shell Exploration and Production Malaysia BV has made another gas discovery in Block PM302 off the northeast coast of Peninsular Malaysia.

The Bunga Dahlia Channel-1 exploration well, located in a water depth of 67 meters, was spudded on February 18, 2006. The well was drilled to a total depth of 2,260 meters and encountered multiple gas zones. Further technical evaluation is required to determine the volumes of the discovery.

With this latest discovery in Block PM302, CS Mutiara has recorded six consecutive exploration successes including Bunga Kamelia, Bunga Zetung, Bunga Anggerik, Bumi South and Bunga Kesumba in the adjoining Block PM301. The company is currently embarking on technical studies to assess the development options for the gas discoveries in both blocks.

CS Mutiara was formed in July 2001 and operates Blocks PM301 and PM302, both located off the northeast coast of Peninsular Malaysia.

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