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| Exploration & Discoveries |
Murphy's Kikeh-7 succeeds in discovering deeper reservoirs
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| The Ocean Rover. |
(4/27/2004 - OGI: Houston) Murphy Oil said today that its Kikeh-7 appraisal
well has successfully confirmed the down dip limits of the Kikeh Field in
Block K offshore deepwater Sabah, Malaysia. Murphy said the Kikeh-7 well was
deepened below known field pays and encountered oil in multiple sands
previously undrilled in Block K. The Kikeh-7 was drilled to a total depth of
14,899 ft subsea by the semisubmersible Ocean Rover and is the deepest
penetration in this deepwater basin. The well has been abandoned and all
costs capitalized. Kikeh-7 was drilled in 4,217 ft of water.
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| Claiborne P. Deming. |
"We are very pleased with the results of this latest appraisal well, which
was planned to test the down dip limits of the Kikeh Field. Of our eight oil
reservoirs in this field, we now have established water limits in five, and
have lowest known oil in three others," said Claiborne P. Deming, Murphy Oil
president and CEO. "The results of the Kikeh-7 well did not materially
extend the downdip limits of the field. The Kikeh Field is a world class
discovery and we are now moving through the sanction process with a target
for first oil in the fourth quarter of 2007," he added.
"We continue to see excellent exploration potential across our deepwater
Sabah acreage and took the advantage with this well to deepen it to test
seismically defined horizons we thought held promise apart from the shallow
reservoirs in the Kikeh Field. We are delighted with the results of this
deepening and the subsequent sidetrack; we believe we have opened up a
completely new play in the deepwater, offshore Sabah," Deming added. "The
oil we encountered in the deep section is higher gravity than the Kikeh oil
and is contained in good quality rocks. Our aim now is to fully incorporate
all this information and to plan further appraisal of this new discovery as
well as target prospects at this level in the future," he said.
"We will now drill an exploration well on the Kakap prospect in Block K,"
said Deming. "These are active times for Murphy and our partner, Petronas
Carigali, since we currently have three rigs operating across the main oil
provinces in Malaysia."
Murphy is the operator of the 4 million-acre Block K with an 80% working
interest. lion acres. Petronas Carigali holds the remaining 20%.
Click here for earlier report.
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