Kuala Lumpur: Japan’s Inpex has announced today that it has discovered oil at the Bestari-1 exploration well in Deepwater Block R offshore East Malaysia. The company has a participating interest in the block through its wholly-owned subsidiary, Inpex Offshore South West Sabah.
Inpex currently owns a 27.5% participating interest in the block, where it conducts exploration activities alongside operator JX Nippon Oil & Gas Exploration (Deepwater Sabah) Limited, Petronas, and Santos Sabah Block R Limited, which own participating interests of 27.5%, 25% and 20%, respectively.
Inpex and its partners will analyse and evaluate the data retrieved from the well, and proceed with plans to drill two exploratory wells to assess the possibility of new oil and natural gas deposits.
