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10 Dec 2018 | 14:26

Coro to conduct technical study with Petronas on Malaysia offshore prospect

Coro Energy said it had agreed to conduct a joint technical study with Petronas over a block offshore Malaysia.

Coro would get permission to conduct an extensive technical analysis of Block 2A.

It would then have an option to apply for a production sharing contract for the block, subject to the national oil company's approval.

Block 2A, located in deep waters offshore Sarawak, had yet to be drilled.

The nearest discovery was 70km to the east of the block.

Work to date on the block ahd identified a number of 'very large' structural closures at prospective levels, consistent with known regional plays, Coro said.

At 2:26pm: (LON:CORO) Coro Energy Plc Ord 0.1p share price was +0.01p at 2.38p

Story provided by StockMarketWire.com
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