INTERNATIONAL NEWS

Petronas Makes deepwater Oil Discovery Off Gabon

Petronas subsidiary PC Gabon Upstream S.A. has discovered oil and gas with the Boudji-1 well in block F14 (Likuale) offshore southern Gabon.

The exploration, drilling in 2,800 m (9,186 ft) of water, encountered 90 m (295 ft) of gross high-quality hydrocarbon-bearing presalt sands.

The company and the Ministry of Petroleum & Hydrocarbons will conduct an assessment to further determine the commerciality of the resource volume, according to Offshore reports.

PCGUSA is the operator of block F14 (Likuale), with Woodside holding a 30percent participating interest.

Executive Vice President & Upstream CEO Datuk Mohd Anuar Taib said: “The discovery in Gabon is an encouraging development 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.”

“Aside from boosting Gabon’s oil and gas industry, this discovery will also spur further growth activities in the region, and complements our achievements towards building a significant deepwater portfolio globally,” Offshore quoted him as saying.

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