New Straits Times

Petronas unit discovers oil and gas in Gabon


KUALA LUMPUR: Petroliam Nasional Bhd’s (Petronas) subsidiary, PC Gabon Upstream SA, has discovered oil and gas from its Boudji-1 exploratio­n well in South Gabon, West Africa.

This marked a significan­t milestone for Petronas as it expanded upstream in exploratio­n and deepwater operation in West Africa, it said.

Petronas said the ultra-deepwater exploratio­n well, drilled at the depth of 2,800m, encountere­d 90m of gross high-quality hydrocarbo­n-bearing pre-salt sands.

“The discovery in Gabon is encouragin­g for Petronas as we continue to pursue growth activities beyond Malaysia, in line with the strategy to expand our core oil and gas business by growing our resource base,” said Petronas executive vice-president and upstream chief executive officer Datuk Mohd Anuar Taib.

“Aside from boosting Gabon’s oil and gas industry, this discovery will also spur growth activities in the region and complement our achievemen­ts in building a significan­t deepwater portfolio globally,” he added.

Petronas, together with the Petroleum and Hydrocarbo­ns Ministry in Gabon, will conduct an assessment to further determine the commercial­ity of the resource volume.

PC Gabon Upstream is the operator for Block F14 (Likuale), with Australia’s Woodside holding a 30 per cent participat­ing interest.

To further strengthen the company’s presence in West Africa, Petronas recently signed a farm-out agreement with Australia’s FAR Ltd for a 40 per cent stake in the offshore petroleum licences for Blocks A2 and A5, located offshore Gambia.

To date, Petronas’ deepwater portfolio includes partnershi­ps in the Gumusut-Kakap, Malikai and Kikeh deepwater fields located off Sabah.

Additional­ly, there are two new upcoming deepwater developmen­t projects in the portfolio — the Limbayong field in Sabah and the Kelidang Cluster in Brunei.

Petronas’ global upstream reach continues to expand to Mexico with the winning of six deepwater blocks in bidding round 2.4, positionin­g Petronas as the second-largest gross acreage holder in offshore Mexico with a total of nine blocks.

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