INPEX CORPORATION (INPEX) has made an oil discovery at the Bestari-1 exploration well in Deepwater Block R (the Block) where preliminary findings point to an approximately 70m column of oil-bearing sands across multiple horizons. The company has a participating interest in the Block through its wholly-owned subsidiary, INPEX Offshore South West Sabah, Ltd.
The Block located offshore East Malaysia covers an area of 672km2 with a water depth ranging from 100m to 1,400m. INPEX currently owns a 27.5% participating interest in the Block, where it conducts exploration activities alongside operator JX Nippon Oil & Gas Exploration (Deepwater Sabah) Limited, PETRONAS CARIGALI Sdn. Bhd., a wholly-owned subsidiary of Petronas, and Santos Sabah Block R Limited, which own participating interests of 27.5%, 25% and 20%, respectively.