Santos participates in Malaysian oil find
The JX Nippon-led joint venture that includes Santos, Inpex, and Petronas has made an oil discovery with the Bestari-1 wildcat drilled offshore Sabah, Malaysia.
The well encountered 67 m of net pay in multiple sand packages within the main Miocene-age target at intervals between 1,860 and 2,707 m. The sands are high quality with good porosity and permeability.
Oil samples recovered using wireline pressure and sampling tools indicate the find is a 27-30° API oil with no sign of hydrogen sulfide and negligible carbon dioxide.
The find is now being further evaluated in order to plan an appraisal program.
Bestari-1 was drilled in the deepwater Block R production-sharing contract area close to Murphy Oil’s Kikeh and Shell’s Gumuscut-Kakap oil fields. Water depth at Block R ranges 100-1,400 m.
JX Nippon and Inpex each have 27.5% interest, Petronas Carigali 25%, and Santos 20%. Santos acquired its interest from Nippon in January.