Newfield Finds Significant Gas Offshore Malaysia

Newfield Exploration Company has announced a significant natural gas discovery on the Block SK 310 Production Sharing Contract (PSC) area, located 50 miles offshore Sarawak, Malaysia.

This is the company's second pinnacle reef natural gas discovery in the region.

The B-14 well encountered 1,800 feet of gross column and 1,585 feet of net natural gas pay in the main carbonate objective. A drill stem test was recently conducted, which confirmed commerciality of the reservoir, the company said in a statement.

Newfield estimates that Gas Initially In Place (GIIP) ranges from 1.5 – 3.0 Tcf.

The B-14 discovery is located less than three miles from Newfield's first pinnacle reef gas discovery, B-15, also located on Block SK 310 in approx. 250 feet of water. Recoverable reserves on this discovery are estimated at approx. 265 Bcf and will be developed in conjunction with the B-14 discovery.