14 Feb '11, 12pm

Malaysia's energy giant Petronas said it has discovered new offshore oil and gas reserves in eastern Sarawak state.

Malaysia's energy giant Petronas said it has discovered new offshore oil and gas reserves in eastern Sarawak state.

Petronas said that in the next three years it, along with its production-sharing contractors, expected to drill more than 50 exploration wells off Malaysia. -- PHOTO: AFP KUALA LUMPUR - MALAYSIA'S state-owned energy giant Petronas on Monday said it has discovered new offshore oil and gas reserves in eastern Sarawak state. Successful drilling of a well last March and a subsequent appraisal well brought a significant discovery for Petronas with early estimates showing there are 2.6 trillion standard cubic feet of net gas in place, it said. The firm added that another well was drilled last December and a preliminary evaluation showed around 100 million barrels of oil and 0.2 trillion standard cubic feet of gas. Petronas said that in the next three years it, along with its production-sharing contractors, expected to drill more than 50 exploration wells off Malaysia. 'These act...

Full article: http://www.straitstimes.com/BreakingNews/SEAsia/Story/STI...

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