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Sunday , September 26 2021

KUFPEC confirms largest gas find

KUWAIT CITY, Feb 10: Kuwait Foreign Petroleum Exploration Company (KUFPEC), on behalf of its wholly owned subsidiary KUFPEC Malaysia (SK-410B) Limited, confirmed, Wednesday, its largestever hydrocarbons discovery.

According to a KUFPEC press release, obtained by KUNA, the company said that this discovery was proven by the Lang Lebah-2 appraisal well in the SK-410B Block located approximately 90 kilometers offshore Sarawak, Malaysia.

The appraisal drilling campaign followed the successful drilling of the first exploration well, Lang Lebah-1RDR2, in the SK 410B Block in 2019, indicated KUFPEC. “KUFPEC Malaysia (SK- 410B) Limited holds a 42.5 percent working interest under the PSC, with PETRONAS Carigali Sdn. Bhd. and PTTEP HK Offshore Limited (as operator) holding 15 percent and 42.5 percent working interests, respectively.”

It went on to say that, “The appraisal drilling in Lang Lebah-2 was completed at a total depth of 4320 meters, with over 600 meters of proven net gas pay.” The well was tested and flowed at 50 million cubic feet of gas per day with a significant amount of gas in place, indicating a substantially larger reservoir than the initial estimate.

This result will accelerate the development plan for the project. “This successful world-class gas discovery is a testament to our steadfast efforts to maximize the value to our shareholder by exploring for hydrocarbons in highly prolific basins,” said KUFPEC CEO Sheikh Nawaf Saud Al-Sabah. “KUFPEC played a strong and active role in maturing the prospect that led to a giant discovery. I am proud of our team,” he added. KUFPEC is an international upstream company engaged in exploration, development and production of crude oil and natural gas outside the State of Kuwait and is a wholly owned subsidiary of Kuwait Petroleum Corporation (KPC). (KUNA)

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