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Newfield in Sarawak spud

by on July 27, 2012 4:18 am GMT
 

Newfield Exploration said it has started drilling an appraisal well on its Paus deep-water discovery off Sarawak, Malaysia.

The Paus North well is being drilled in Block 2C where Newfield made the large Paus wet gas find in 2009.

Newfield said Paus North is drilling an up-structure fault block from the Paus discovery that could have 200 million to 400 million barrels of oil potential.

“It also has the potential of being gas-condensate, which is largely what we saw in the original discovery well. Either of those outcomes, success case, we hope to put over an economic threshold in that project and allow us to continue to build our business offshore Sarawak, that’s the game plan,” said Newfield’s chief executive Lee Boothby.

Meanwhile, the company said it recently set a record production mark of more than 30,000 barrels per day of oil net from its Malaysian fields.