Business Times (Malaysia): Petronas, Shell find gas in Block PM301: “…a joint venture between Petronas Carigali Sdn Bhd and Shell Exploration and Production Malaysia BV, has made its fourth gas discovery in Block PM301 off the north-east coast of Peninsular Malaysia.” (ShellNews.net) 15 April 05

Friday, April 15 2005

CS MUTIARA Petroleum Sdn Bhd, a joint venture between Petronas Carigali Sdn Bhd and Shell Exploration and Production Malaysia BV, has made its fourth gas discovery in Block PM301 off the north-east coast of Peninsular Malaysia.

Drilling operations on Bumi South-1 well commenced on February 25 2005. The exploration well, located in water depth of 55 metres, was drilled to a total depth of 1,650 metres and encountered multiple gas zones. Further technical evaluation is required to determine the reserves, the company said in a statement released in Kuala Lumpur.

CS Mutiara Petroleum is undertaking the technical studies to assess the development options of the cluster gas discoveries. It plans to continue with exploration and appraisal activities in the same block.

The discovery is located about 25 km north-west of the Bunga Anggerik gas field discovered in November 2004. Other recent exploration successes include Bunga Kamelia, Bunga Zetung and Bunga Anggerik.

CS Mutiara Petroleum was formed in July 2001 and operates Blocks PM301 and PM302, both located off the north-east coast of Peninsular Malaysia.

http://www.btimes.com.my/Current_News/BTimes/Friday/Corporate/20050415020658/Article/

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