PETRONAS: MALAYSIA RECORDS OVER 1 BILLION BARRELS OF OIL EQUIVALENT OF EXPLORATION DISCOVERIES IN 2023

PETRONAS and its Petroleum Arrangement Contractors recorded 19 exploration discoveries and two exploration-appraisal successes, contributing over 1 billion barrels of oil equivalent (bboe) of new resources for Malaysia in 2023.

More than half of the discoveries were made in the Sarawak Basin, primarily in two clusters within the Balingian and West Luconia geological provinces. Among the notable discoveries are Gedombak-1, Sinsing-1, Machinchang-1 and Mirdanga-1 by PETRONAS Carigali Sdn Bhd (PETRONAS Carigali), along with Babadon-1 and Chenda-1 by Thailand’s PTTEP.

Three discoveries were made in the Northwest Sabah Basin. Layang-Layang-1 by PETRONAS Carigali, as well as Hikmat-1 and Dermawan-1 by PTTEP proved a working petroleum system that unravels new opportunities in the ultra-deepwater and deepwater areas. Another drilling campaign is ongoing within the same proven basin in the shallow waters off the coast of Sabah.

Two other discoveries were made within the Malay Basin. Hibiscus Oil & Gas Malaysia found gas in Bunga Lavatera-1 well near the PM3 hub, and brought it onstream with a flowrate of about 50mmscf per day within the same year. PTTEP found oil and gas in Simpoh Beludu-1, having penetrated the hydrocarbon-filled reservoir in the deeper Group K sands.