Low Co2 Potential Hydrocarbon Block Sk 301, Rajang Delta, Offshore Sarawak

Block SK 301 is open block, located in the Rajang Delta shelf, offshore Sarawak, East Malaysia PMU offers an opportunity to acquire interest of this highly prospective block. This presents a chance to acquire a position in one of the most dynamic, rapidly-expanding theatres of SE Asian E&P, in the virtually unexplored, large Rajang Delta which contains only four exploration wells and one delineation well within a 8164 sq.km area. One of the wells (L4-1x, Shell, 1970) is a proven gas discovery, with reserves estimated to be in the order of several hundred BCFG and which also has the potential for oil, as both L4-1x and delineation well Hibiskus-1 (Idemitsu, 1988) had oil shows. Last contract terms handed by YPF Repsol Malaysia were improved during the late 90’s by Petronas, and together with potential access to nearby producing infrastructure and with benign operating conditions and shallow water depths (+/-100 -150 m), the area has favorable economics. I2 wells drilled by YPF Repsol (Sook-1/st and Laya–1, 2003) penetrated good gas shows in undeveloped sands.