PC Gabon Upstream S.A. (PCGUSA), the subsidiary of the state-run oil company in Malaysia Petronas, has discovered new oil and gas from Boudji-1 exploration well in Block F14 (Likuale), which is located in South Gabon
According to the company, the ultra-deepwater exploration well, which is drilled in 2,800m water depths, encountered 90m of gross high quality hydrocarbon-bearing pre-salt sands.
The discovery is in line with Petronas’ effort to expand its upstream portfolio across West African region, said the company in a statement to the press.
In addition to support in the development of Gabon’s oil and gas industry, the new discovery further aims to spur growth activities in the entire region, thus helping the company to build a major deepwater portfolio across the globe.
PCGUSA is operating Block F14 (Likuale), with Australia’s Woodside holding a 30 per cent participating interest.
The company further announced to conduct an assessment to determine the commerciality of the resource volume, along with the Ministry of Petroleum and Hydrocarbons in Gabon.
With an aim to strengthen its footprint in West Africa, Petronas has signed an agreement with Australia's FAR Ltd for a 40 per cent interest in the offshore petroleum licenses of Blocks A2 and A5 that are located offshore Gambia.
