Petronas finds two gas fields off Borneo island

Malaysian state energy firm Petronas announced on Monday that it had made two gas discoveries off Borneo island as it pursues an aggressive strategy to drill locally.

The two gas discoveries are in Kasawari and NC8SW fields off the coast of Sarawak, a Malaysian state on Borneo island, Petronas said in a statement.

Petronas said initial assessments showed that gas-in-place for the Kasawari field was over five trillion standard cubic feet while NC8SW had estimated recoverable resources of more than 450-billion standard cubic feet of gas.

Borneo is a vast island shared by Malaysia, Indonesia and Brunei.

“For 2012, Petronas and its production sharing contractors are planning to drill 30 exploration wells to further enhance the prospect of Malaysia’s basins,” it said.


Petronas had previously announced it would scale back foreign drilling and focus its development and extraction efforts closer to home.

The move came as Malaysia seeks ways to turn around an export slump. Petronas — Malaysia’s only Fortune 500 company — contributes almost half the country’s budget revenues.

Prime Minister Najib Razak is also pushing for the development of more reserves to address future energy demand. — Sapa-AFP

Subscribe to the M&G

These are unprecedented times, and the role of media to tell and record the story of South Africa as it develops is more important than ever.

The Mail & Guardian is a proud news publisher with roots stretching back 35 years, and we’ve survived right from day one thanks to the support of readers who value fiercely independent journalism that is beholden to no-one. To help us continue for another 35 future years with the same proud values, please consider taking out a subscription.

Related stories

Where do Africans study abroad?

China is becoming the preferred destination for countries such as Ghana and Nigeria

Why some anti-corruption campaigns make people more likely to pay a bribe

The reason may be that the messages reinforce popular perceptions that corruption is pervasive and insurmountable. In doing so, they encourage apathy and acceptance rather than inspire activism

Singapore slammed for ‘cruel’ Zoom death sentence

Zoom has become popular during virus lockdowns worldwide for everything from virtual school classes to business meetings — but Human Rights Watch criticised its use to mete out capital punishment

Indonesia seizes half-a-million masks amid coronavirus panic buying

Authorities were questioning two people after a raid at a warehouse in satellite city Tangerang, where nearly 600 000 surgical masks were found

The global spread of the coronavirus: Where is it?

A virus similar to the SARS pathogen has claimed 81 lives since emerging in...

Democracy and charisma: A dangerous liaison

In India and the Philippines, strongmen have consolidated immense power through democratic means. How do we explain this?
Advertising

Subscribers only

Free State branches gun for Ace

Parts of the provincial ANC will target their former premier, Magashule, and the Free State PEC in a rolling mass action campaign

SAA bailout raises more questions

As the government continues to grapple with the troubles facing the airline, it would do well to keep on eye on the impending Denel implosion

More top stories

Hawks swoop down with more arrests in R1.4-billion corruption blitz

The spate of arrests for corruption continues apace in Gauteng and the Eastern Cape.

Catholic NGO boss accused of racism and abuse in Sudan

The aid worker allegedly called his security guard a ‘slave’

Agrizzi too ill to be treated at Bara?

The alleged crook’s “health emergency” — if that is what it is — shows up the flaws, either in our health system or in our leadership as a whole

SANDF hid R200m expenditure on ‘Covid’ drug it can’t use

Military health officials are puzzled by the defence department importing a drug that has not been approved for treating coronavirus symptoms from Cuba
Advertising

press releases

Loading latest Press Releases…

The best local and international journalism

handpicked and in your inbox every weekday