MURPHY Oil has decided not to sell its minority stake in the Shell-operated ultra-deep water Block CA-1 off Brunei, where the partners have notched up another discovery with the Jagus Sub-Thrust-1X wildcat. Appraisal and potential development plans are already being assessed for this find, which lies near Shell's producing Kakap-Gumusut project in Malaysian territorial waters. Murphy revealed last week that it had "reclassified its working interest in Block CA-1 of Brunei as no longer held for sale, while [contiguous] Block CA-2 retains that classification".During the second quarter, Murphy and its partners made a discovery on Block CA-1 with the Jagus SubThrust-1X exploration well. The net cost of $2.8 million for Murphy's 8.051% working interest translates to capex of around $35 million for the wildcat.
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