Malaysia - We have interests in three offshore Malaysia blocks that include current production, undeveloped discoveries and lower risk drilling prospects in shallow water and a large deepwater exploration concession. We have four shallow water fields under development.
PM 318 is an area of 414,000 acres in shallow water. On this block, we have the Penara/North Lukut fields producing about 7,000 BOPD (gross). The Abu field commenced production in the second quarter of 2007 and is currently producing 15,000 BOPD (gross). Carigali, the exploration and production subsidiary of Petronas, is the operator of PM 318. We hold a 50% interest.
The Puteri field, just east of Penara, was a 2005 discovery and we expect the first oil sales in the second quarter of 2008 with production of approximately 6,000 – 8,000 BOPD. We hold a 50% interest in Puteri.
PM 323 is an area of 320,000 acres in shallow water with four undeveloped discoveries. We are developing the East Belumut and Chermingat fields and they are expected to be on-line in mid 2008 with production ramping up to approximately 15,000 BOPD gross. We are the operator of this block.
Our lower risk field development plays in shallow water Malaysia are offset with high potential exploration in deepwater.
Block 2C, offshore Sarawak, is a deepwater area of 1.1 million acres. We are the operator of Block 2C with a 40% interest. We plan to drill a second exploratory test well on this block in mid-2008.
For a map of our Malaysia assets, click here.
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