OCCIDENTAL CONFIRMS MAJOR GAS FIELD IN MALAYSIA
OCCIDENTAL CONFIRMS MAJOR GAS FIELD IN MALAYSIA LOS ANGELES, Nov. 4 /PRNewswire/ -- Occidental Petroleum Corp.
(NYSE: OXY) announced today that it has successfully tested gas and condensate from its second well in the Jintan Field offshore Sarawak in East Malaysia.
The Jintan-2 appraisal well, located 2.5 miles (4.1 km) south of the Jintan-1 discovery well and approximately 175 miles (290 km) offshore from Bintulu, flowed 64.4 million cubic feet of gas and 620 barrels per day of 51.2 degree API gravity condensate through a 1 1/2-inch choke from 164 feet (50m) of perforations between 5,282 feet (1610m) and 5,446 feet (1660m). The flowing tubing pressure was 1,978 pounds per square inch. The gas contains 2 percent carbon dioxide and a trace of hydrogen sulfide. Water depth at the well location is 423 feet (129m).
In announcing the test results, Dr. Ray R. Irani, chairman, president and chief executive officer, said that Jintan-2 confirmed a gas-in-place volume of about 4 trillion cubic feet and 75 million barrels of condensate.
"Jintan is the largest gas discovery found by Occidental in its 26 years of international exploration. Other similar large carbonate reef structures on our block may also contain significant amounts of gas, and a multiwell exploration drilling campaign will begin immediately to test several of the reefs for potential gas and condensate reserves. This campaign will assist in our analysis of how to develop this discovery," Dr. Irani said. In April of this year, Jintan-1 was tested for 32.9 million cubic feet of gas and 832 barrels of 47.2 degree API gravity condensate per day through a 1-inch choke from 154 feet of perforations between 5,256 feet and 5,410 feet. The gas contained less than 2 percent carbon dioxide and no hydrogen sulfide. Water depth at the well location was 427 feet. Occidental is the operator of the 4.2-million-acre Block SK-8 with a 37.5 percent interest. Nippon Oil holds a 37.5 percent interest which they acquired from Occidental in 1991. Petronas Carigali holds a 25 percent interest. -0- 11/4/92 /CONTACT: Howard Collins (media), 310-443-6523, or Kenneth J. Huffman (investors), 212-603-8183, both of Occidental Petroleum/ (OXY) CO: Occidental Petroleum Corp. ST: California IN: OIL SU: DSC
KJ -- LA024 -- 2534 11/04/92 13:31 EST
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|Date:||Nov 4, 1992|
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