Sapura makes ninth gas discovery offshore Sarawak

PETALING JAYA: Sapura Energy Bhd has made its ninth gas discovery offshore Sarawak, following the completion of its 2017 drilling campaign within the SK408 production sharing contract (PSC).
In a filing with Bursa Malaysia today, the group said the Pepulut-1 exploration well was drilled and encountered high quality reservoir. The well is located offshore Bintulu, Sarawak in Block SK408.
The Pepulut-1 gas discovery is a continuation of its wholly owned subsidiary, Sapura Exploration and Production (Sarawak) Inc’s (Sapura E&P) exploration successes in the highly prolific area of SK408.
The discovery is also another significant milestone for Sapura Energy following the recent announcement of its development plans for Gorek, Larak and Bakong fields as Phase 1 in the SK408 PSC.
“In line with our strategy to unlock the value of our gas fields and enhance long-term earnings visibility of our E&P business, we will focus on realising the full potential of our highly prospective gas fields in SK408 and strengthening our E&P portfolio,” said Sapura Energy president and group CEO Tan Sri Shahril Shamsuddin.
Sapura E&P is the exploration operator with its partners Petronas Carigali Sdn Bhd and Sarawak Shell Bhd.
Sapura Energy’s share price closed unchanged at 63.5 sen today with a total of 98.92 million shares traded.