UK's Coro To Study Malaysian Acreage

Small UK independent, Coro Energy, said December 10 that it has agreed with Malaysian state-owned Petronas to conduct a joint technical study of Block 2A, offshore Sarawak in Malaysia. The deepwater block is yet to be drilled, with the nearest discovery 70km to the east.

Coro - previously Saffron Energy - will have the option to apply for a production sharing contract for the block, once the study is completed, subject to Petronas’ approval.

The area is one of the most prolific hydrocarbon basins offshore Malaysia and is home to numerous large and giant oil and gas fields, said Coro, with early shallow water gas discoveries in the 1970s and 80s having resulted in the development of the world-scale Bintulu LNG export plant, and more recent finds in deeper water also.