On Monday, Petroliam nation Bhd. (Petronas)’s subsidiary Progress Resources USA Ltd (PRUL) and its partners announced the finding of oil in the Gulf of Mexico.
The oil was discovered in the ultra-deepwater monument exploration well which was drilled to a total depth of 10,164 meters. It encountered about 60 meters of net oil-bearing sands in the lower Wilcox of Paleogene sandstone.
The discovery will be followed by the required further appraisal work to assess the full potential of oil accumulation. It was in line with Petronas’ growth strategy to expand core oil and gas business by growing its resource base to grow its global portfolio.
The well is operated by Equinor Gulf of Mexico LLC with a 50% working interest, PRUL with 30% and Repsol E&P USA Inc. with 20%.
