Dateline 2022-09-27, Market Screener:
UAE-based Mubadala Petroleum and its partners Shell and Malaysia’s Petronas have made a sizable natural gas discovery at Block SK320 off the coast of Bintulu, Sarawak, in Malaysia, Petronas said on September 20.
The discovery was made with a well drilled to a depth of 1,680 metres. The well encountered a gas column more than 110 metres in length, in good-quality carbonate reservoirs.
Mubadala operates the block with a 55% stake, while Petronas has 25% and Shell has 20%.
In a statement, Petronas said the find added to “a string of exploration successes in the Central Luconia region,” and confirmed the “large potential” of the region’s carbonate play.