KUALA LUMPUR: Progress Resources USA Ltd (PRUL), a Petronas subsidiary, announced an oil discovery in the Monument exploration well, offshore United States (US) Gulf of Mexico, on April 6.
The Monument exploration well is operated by Equinor Gulf of Mexico LLC with a 50% working interest while PRUL holds 30% and Repsol E&P USA Inc holds the remaining 20%.
In a statement, Petronas said this discovery marks a significant milestone in strengthening and developing its ventures in the Americas, as it diversifies and expands its oil and gas business portfolio in the US and offshore US Gulf of Mexico.
“The discovery in the US Gulf of Mexico is an encouraging development for Petronas as we continue to pursue opportunities beyond Malaysia. It is in line with Petronas’ three-pronged growth strategy to expand our core oil and gas business by growing our resource base,” said Petronas executive vice-president (upstream) CEO Adif Zulkifli.
The ultra-deepwater Monument exploration well was drilled to a total depth of 10,164m and encountered approximately 60m of net oil-bearing sands in the Lower Wilcox of Paleogene sandstone.
With the discovery, further appraisal works are required to determine the full potential of the oil accumulation.
source https://www.thesundaily.my/business/petronas-subsidiary-announces-oil-strike-in-gulf-of-mexico-FY2230632
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