According to Dr Yeah, “Murphy Oil’s latest oil strike in deep water off Peninsular Malaysia is an important discovery that will help boost reserves in the area [and] will boost the country’s oil and gas outlook.”
“It will further prolong oil and gas reserves in Malaysia, particularly the peninsula side [and], in the immediate basis, it will boost the sector with higher output,” added the economist.
As reported earlier in Energyreview.net, Murphy discovered oil and gas at its Kenarong-1 appraisal well in Block PM 311 off the coast of Peninsula Malaysia. The well was drilled in 225 feet of water and reached a total measured depth of 10,453 feet.
A production-sharing contract was signed in July last year, giving Murphy the 75 per cent working interest in Blocks PM311 and PM312. The two blocks represent an exploitation position similar to shallow-water blocks SK 309 and 311.
