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AFX Asia (Focus): Malaysia's Petronas-Shell JV makes fourth successive gas discovery ( 14 April 05


KUALA LUMPUR (AFX) - CS Mutiara Petroleum Sdn Bhd has made another gas discovery at Block PM301, off the northeast coast of Peninsular Malaysia.


In a statement, the 50:50 joint venture company between Petronas Carigali Sdn Bhd and Shell Exploration and Production Malaysia BV said drilling at Bumi South-1 well started on Feb 25 this year.


CS Mutiara added that the exploration well, 55 meters below sea level, was drilled to a total depth of 1,650m and encountered multiple gas zones.


Bumi South-1 is the fourth discovery in Block PM301, following the recent exploration success at Bunga Kamelia, Bunga Zetung and Bunga Anggerik, the company said.


The latest discovery is located about 25 kilometers northwest of the Bunga Anggerik gas field discovered in Nov 2004, it added.


The company said it is currently conducting technical studies to access the development options of this cluster of gas discoveries and also has plans to continue with exploration and appraisal activities at the same block.




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