Sapura Energy finally gets go-ahead for Sarawak gas fields

June 3, 2018

Dateline 2018-04-12, The Edge:

The long-awaited go-ahead for the development of three gas fields off Sarawak provided a huge boost to flagging Sapura Energy Bhd, with its market capitalisation boosted by more than half a billion ringgit as its share price rallied sharply yesterday.

Sapura Energy logged its largest single-day price gain since its listing six years ago to finish a fifth higher to 64.5 sen after it announced it was proceeding with the development of the Gorek, Larak and Bakong gas fields off Sarawak under phase one of the SK408 production sharing contract (PSC).

The PSC follows a final investment decision (FID) made after the fields development plan received Petroliam Nasional Bhd’s approval. Concurrently, the key terms of the gas sales agreement for the gas fields’ development have been agreed upon.


SapuraKencana Touts Four Gas Finds Offshore Malaysia

July 31, 2014

Dateline 2014-06-09, Rigzone:

SapuraKencana Energy (SKE) announced Monday four significant gas discoveries in the SK408 Production Sharing Contract (PSC) area offshore Sarawak, Malaysia.

All four wells have discovered non-associated natural gas within the primary target Late Miocene Carbonate reservoirs. The first well, Teja-1, located southeast of the Cili Padi gas field encountered 719 feet (219 meters) of gross column whilst the Gorek-1 discovery, southeast from F23 gas field encountered a gross gas column of 771 feet (235 meters).

The third well, Legundi-1, located south of F23 gas field was drilled in a down-flank location and encountered a 456 feet (139 meters) gross gas column, and the fourth well, Larak-1, located south of F6 gas field, also drilled in a down-flank location encountered a gross gas column of 1,093 feet (333 meters).