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Global Energy Advisory March 28th 2014

New Prospects & Discoveries

Malaysia: Malaysia’s state-run Petronas and Shell Malaysia last week announced an oil discovery offshore Sabah via the Limbayong-2 well during the appraisal of the Limbayong gas field. Shell, which made the discovery, said the well encountered 136 meters of oil-bearing sands, while plans are afoot to conduct more appraisal work to determine recoverable volume. The drilling consortium consists of Shell Malaysia (35%), Conoco Phillips (35%) and Petronas (30%).

Ecuador: Ecuador’s National Mining Company (ENAMI) on 22 March said it believes there was new mining potential in the reservoir sands in the Tola Norte project located in the coastal province of Esmeraldas, according to our partners at Southern Pulse. ENAMI revealed that an initial geological sample suggested the presence of metals such as iron but further testing at the National Research Institute of Geological Metallurgical Mining is needed. A report released by ENAMI says that environmental licensing would be the next step in the process and could help Ecuador move from a productivity matrix based on agriculture to large-scale industrialization.

Pakistan: A private Pakistani company, Petroleum Exploration (Pvt) Ltd (PEL), has reportedly made a significant discovery in its Badin South IV Concession Block. The Ayasha-1 well was spudded on 31 December 2013 and completed on 14 February 2014 after achieving the target depth of 2400 meters. The company says the…

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