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Petronas and its contractors recently announced 19 exploration discoveries and two exploration assessments in 2023, bringing more than 1 billion barrels of oil equivalent to new resources to Malaysia.
The achievement was the result of an enhanced exploration program with a total of 25 wells drilled, the most since 2015. More than half of the discoveries have been made in the Sarawak Basin, which also includes important discoveries from Petronas Carigali Sdn Bhd and Thailand’s PTTEP.
Petronas’ senior vice president Firouz Asnan said the success confirmed their belief in the potential of the Malaysian basin and stressed the importance of using new 3D seismic data and software technology.
He also said he would support partners in adopting new exploration strategies to monetise these discoveries faster to meet the region’s growing energy needs.
MPN plans to launch the next round of Malaysian tenders early next year to provide more exploration opportunities.
(Source: Bernama Image source: freepik)
