February 18, 2021
Dateline 2021-02-03, Zawya:
Kuwait Foreign Petroleum Exploration Company’s (KUFPEC) oil discovery in Malaysia is significantly more than expected, the company’s CEO said.
Shaikh Nawaf Saud Al-Sabah told the Atlantic Global Energy Forum 2021 last month that it is one of the top finds over the past couple of years.
“We are in the process of doing the appraisal right now and all indications are that it will be quite significantly more than what we initially expected,” he said.
The discovery, in Block SK-410B located 90 kilometres offshore Sarawak, is estimated to be multi-TCF gas, according to a KUFPEC press release. It said the exploration well encountered a gross gas column of 252 metres.
August 6, 2019
Dateline 2019-06-27, Reuters:
Kuwait Foreign Petroleum Exploration Company (KUFPEC) said on Thursday it had made a significant gas discovery in block SK-410B in Malaysia.
The block is located in shallow waters, nearly 90 km (56 miles) off the coast of Sarawak, it said in a statement.
The discovery was made by KUFPEC Malaysia, a wholly-owned subsidiary of the Kuwaiti firm, which holds a 42.5% working interest under a production sharing contract with PETRONAS Carigali Sdn. Bhd. and PTTEP HK Offshore Ltd.
August 28, 2016
Same topic as yesterday, a different slant on reporting, and an optimistic note.
Dateline 2016-07-22, Nikkei Asia Review:
Malaysia’s national oil company Petroliam Nasional, or Petronas, has awarded its first production sharing contract for 2016 to three oil companies to explore a hydrocarbon block off the Sarawak state.
Thailand’s PTT Exploration & Production will operate the SK410B oil field with joint venture partner Kuwait Foreign Petroleum Exploration Company, Petronas said in a statement. PTT and the state-run KUFPEC will each hold a 42.5% stake in the block while Petronas will own the remainder 15% through a wholly owned unit.
“[The] signing not only marks Petronas’ first PSC award in 2016, but also welcomes PTT for their first operatorship in Malaysia,” said Petronas’ executive vice president for upstream Mohd Anuar Taib. “We are also pleased to collaborate with our long term partners, KUFPEC once again.”