KUALA LUMPUR: SapuraOMV Upstream Sdn Bhd, together with its joint-venture partners Wintershall Dea and Harbour Energy, has made a significant oil discovery in the Kan-1 exploration well, located 25km off the coast of Tabasco, Mexico.
In a filing with Bursa Malaysia on Thursday (April 27), SapuraOMV said drilling commenced in October 2022, and the target reservoir was successfully reached in January 2023.
“Preliminary results are encouraging, with moveable hydrocarbons confirmed in the targeted reservoir sequence, and based on preliminary estimates, the discovery may contain 200 to 300 million barrels of oil equivalent.
“Post-drill evaluation is ongoing to determine the full potential of the discovered resource,” it said.
As such, SapuraOMV is working with Wintershall Dea and Mexican authorities to determine the discovery's commercial viability.
SapuraOMV holds a 30% stake in Block 30, while Wintershall Dea holds 40% as the operator, and Harbour Energy has a 30% share.
Source : The Edge Markets