New oil and gas discovery off Borneo
Posted: 08 August 2005
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Brunei Shell Petroleum (BSP), a joint venture between the Brunei government and the Royal Dutch Shell Group has made a new oil and gas discovery in the Seria North Flank off Borneo island, the second successful find in nearly a year.
The discovery from a well drilled four kilometres offshore in nine metres of water further boosted prospects for the Seria North Flank, which is estimated to contain total recoverable reserves of up to 100 mln barrels of oil, the group said.
The company said drillings will continue in two more Seria North Flank structures this year and a further five wells are planned for drilling in 2006.
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