Published: Monday March 17, 2014 MYT 12:52:00 PM
KUALA LUMPUR: Oil has been discovered offshore Sabah at the Limbayong-2 well with 136 metres of oil bearing sands.
“The appraisal well encountered 136 metres of oil bearing sands, and there are plans to conduct more appraisal work on the discovery to determine its recoverable volume,” it said.
Petronas executive vice president of exploration and production Datuk Wee Yiaw Hinsaid the discovery affirmed the hydrocarbon prospects of Malaysia’s deep water areas.
Iain Lo, Chairman of Shell Malaysia chairman and managing director of Sabah Shell Petroleum Company Ltd Iain Lo said this discovery attested to the significant potential in this area and was a positive development for exploration activities in East Malaysia.