UK independent Upland Resources, Malaysia’s Big Oil Ventures (BOV) and state government-owned Petroleum Sarawak (Petros) have teamed up to study the hydrocarbon potential of Block SK 334 onshore Sarawak, East Malaysia.
The trio have signed a joint technical study agreement for the approximate 6685-square kilometre tract in the north of the state, with the work being performed by Upland and BOV.
Upland confirmed that the main objectives of the joint technical study are to de-risk the petroleum system elements and improve understanding of the prospectivity in Block SK334, as well as assess the hydrocarbon potential of Block SK 334, delineate prospective areas and identify leads and prospects.
The study, which is expected to be completed by the end of 2023, is also intended to determine and design new seismic acquisition requirements and/or identify any other feasible exploration tools for future de-risking activities.
Block SK 334 is contiguous to discovered oilfields across the land border with Brunei Darussalam that have analogous geology and where production was established back in 1929.
“The joint technical study agreement for Block SK 334 represents a significant event for Upland. We believe that the outcome of the study will give us an advantage for the subsequent stages in Block SK 334… and we are very encouraged about the potential of significant hydrocarbons present in the study area,” said Upland’s Sarawakian chairman and interim chief executive Bolhassan Di.
The study will start immediately and Di will be in charge of establishing an operations office in Sarawak for preparatory work to begin.