MURPHY OIL CORPORATION ANNOUNCES FIRST OIL AT SIAKAP NORTH-PETAI AND UPDATES PROGRESS AT DALMATIAN

April 10, 2014

Dateline 2014-0303, TWSJ:

Murphy Oil Corporation MUR -0.03% announced today that first oil production from the Siakap North-Petai (SNP) development offshore Malaysia commenced on February 27, 2014.

The SNP field, operated by Murphy with a 32 percent working interest, is located offshore Malaysia in a water depth of approximately 4,400 feet. The overall field development plan consists of eight producing wells and five water injection wells developed as a subsea tie-back to the Kikeh Floating Production Storage and Offloading (FPSO) vessel. Initial operations commenced with production from four oil wells. Peak gross production from the field is expected to reach 35,000 barrels of oil per day in mid-2014. The unitized field combines the discoveries at Siakap North in Block K with Petai in the adjacent Block G. Murphy’s partners in the development are PETRONAS Carigali, Shell, and ConocoPhillips COP +0.18% with the latter two partners each holding a 21 percent working interest.