The well tested at about 2,100 barrels of oil per day with good crude quality, Petronas said in a statement.
WaveCrest Energy will initially focus on Latin American and Asian markets, helping enable a switch to natural gas, Macquarie Capital said.
TechnipFMC’s latest contract, with state-owned Petronas, covers the development of 10 deepwater wells and their tieback to the Limbayong FPSO unit offshore Malaysia.
Oil Search’s main challenge this year is to sell a 15% stake in its $3 billion Pikka oil project in Alaska.
The firm said the award of the block was expected to bolster exploration activities off the coast of Sabah state.
Here’s a snapshot of recent energy deals including Northern Oil and Gas’ expansion into the Marcellus Shale with a $250 million acquisition from India’s Reliance plus Japanese trading house Sumitomo’s U.S. shale exit.
The discovery is based on the appraisal of Lang Lebah-2 in the Sarawak SK 410B project.