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2014-03-17 08:03:00

SHELL HITS OIL

SHELL HITS OIL

UPSTREAM. Shell has made an oil discovery with an appraisal well at the Limbayong gas field off the coast of Sabah, Malaysia.
State-run Petronas, which holds a stake in the well, revealed on Monday the Limbayong-2 well had intersected 136 metres of oil bearing sands and added more work would be carried out on the discovery to determine its recoverable volume.

"We are indeed pleased with the discovery which affirms the hydrocarbon prospects of Malaysia's deep-water areas," Petronas executive vice president of exploration and production, Dato' Wee Yiaw Hin said.

The Limbayong discovery lies in 1000 metres of water on Block J, which also hosts the Gumusut oilfield, and is understood to have been made in the early 2000s and contains about 800 billion cubic feet of gas reserves.

The drilling of Limbayong-2 was carried out by a consortium which includes Shell (35%), ConocoPhillips (35%) and Petronas (30%).

Tags: SHELL, OIL, GAS, MALAYSIA, CONOCOPHILIPS, PETRONAS

Chronicle:

SHELL HITS OIL
2018, June, 20, 12:45:00

NORWAY'S OIL PRODUCTION 1.629 MBD DOWN 236 TBD

NPD - Preliminary production figures for May 2018 show an average daily production of 1 629 000 barrels of oil, NGL and condensate, which is a decrease of 236 000 barrels per day compared to April.

SHELL HITS OIL
2018, June, 20, 12:40:00

LIBYA'S OIL PRODUCTION DOWN 400 TBD

PLATTS - Libyan crude production has fallen around 400,000 b/d -- or nearly halved -- due to militia attacks on the eastern oil terminals of Ras Lanuf and Es Sider, the head of the country?s National Oil Corp. said Tuesday.

SHELL HITS OIL
2018, June, 20, 12:35:00

VENEZUELA'S OIL PRODUCTION DOWN

PLATTS - Venezuela's crude output averaged 1.36 million b/d in May, down from 1.41 million b/d in April, and 1.9 million b/d in May 2017, according to S&P Global Platts. The International Energy Agency said it could fall to 800,000 b/d or even lower next year.

SHELL HITS OIL
2018, June, 20, 12:30:00

NIGERIAN OIL SALES

PLATTS - Nigerian oil has been slow to sell this month as bidders for the country's July-loading heavy and light sweet crudes have been absent from the market. Market participants pegged the amount of unsold Nigerian barrels loading in July at 20 million-34 million barrels, amounting to roughly 40%-75% of what is produced in a month.

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