Shell JV Makes "Significant" Oil Discovery Offshore Brunei

March 14, 2011 - PRLog -- Brunei Shell Petroleum announced a "significant" new oil discovery Monday in the coastal waters offshore the southeast Asian sultanate.

The Royal Dutch Shell plc joint venture said the discovery, which is called Geronggong, is situated in the 3rd Offshore Acreage Area in deepwater.

The oil discovery is 100 kilometers offshore at a water depth of 1,000 meters, the deepest such water depth in which the joint venture company has discovered hydrocarbons in Bruneian acreage.

"I am delighted that the ongoing high success rates of near field exploration in Brunei in the last years have been augmented by this significant volume addition in the deepwater," Ceri Powell, Shell's Executive Vice President of Exploration Upstream International, said in a statement.

Shell divulged few other details about the oil find in its brief statement, but said follow-up plans will include an assessment of the full field recovery potential, including further appraisal drilling during the next two years.

The joint venture operation drilled the discovery using the deepwater drilling rig Noble Phoenix.

Prior to its arrival in Brunei, the drillship had undergone refurbishment and recertification on its thrusters, riser and blow out preventer (BOP) systems, leading to full compliance with Shell's safety criteria for deepwater drilling.

Author: Mike King, analyst.

Please click here for additional information: http://www.companiesandmarkets.com/news/shell-jv-makes-si...

# # #

Browse 450,000 market research reports and company profiles covering major markets, companies and countries. www.companiesandmarkets.com is a central source of market research reports from the world’s leading analysts and report publishers.