In a filing with Bursa Malaysia today, SapuraOMV said the 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 the Mexican authorities to determine the discovery’s commercial viability.
SapuraOMV holds 30% equity in Block 30, while Wintershall Dea holds a 40% share as the operator and Harbour Energy has the other 30% share.
SapuraOMV, which has a portfolio of oil and gas assets, is a strategic partnership between Sapura Energy Bhd and OMV Exploration & Production GmbH, a subsidiary of Austria’s OMV Aktiengesellschaft.
As at 5pm today, Sapura Energy’s shares stood at 3.5 sen, giving it a market capitalisation of RM489.36 million.
Stay current - Follow FMT on WhatsApp, Google news and Telegram