Lundin Petroleum Signs New PSC in Malaysia

Lundin Petroleum Signs New PSC in Malaysia

Lundin Petroleum AB (“Lundin Petroleum”) is pleased to announce that its wholly owned subsidiary, Lundin Malaysia BV, has signed a new production sharing contract (PSC) with PETRONAS covering block PM319, offshore Peninsular Malaysia.

Block PM319 covers an area of approximately 8,400 km2 and is located west of Block PM307 where Lundin Petroleum and PETRONAS Carigali have achieved success during 2012 with the appraisal of the Bertam oil field and the discovery of gas with the Tembakau-1 well.

The area has very limited 3D coverage and work commitments include a full tensor gravity survey, 550 km2 of 3D seismic and one wildcat exploration well. A number of leads have been identified on 2D seismic data.

Lundin Petroleum now operates a total of seven Blocks in Malaysia focused in two core areas. The Peninsula Malaysia core area consists of PM307, PM308A, PM308B and PM319 which are contiguous. The Sabah core area consists of SB303, SB307 and SB308 which are also contiguous blocks.

Ashley Heppenstall, President and CEO of Lundin Petroleum comments:“The signing of this Block expands our Peninsular Malaysia core area significantly where we are aiming to apply our regional technical understanding to replicate recent exploration success that has seen us drill three discoveries from five wells in this core area”

Lundin Petroleum holds an 85 percent interest in PM319 through its subsidiary Lundin Malaysia BV. Lundin Malaysia BV’s partner is PETRONAS Carigali Sdn Bhd with a 15 percent interest.

Press Release, December 5, 2012

 

 

 

Share this article

Follow Offshore Energy Today

Events>

<< Nov 2017 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

OTC Asia 2018

The biennial OTC Asia is where energy professionals meet to exchange ideas and opinions to advance scientific and technical knowledge…

read more >

THE 5TH OIL & GAS VIETNAM 2017

The 5th edition of Oil & Gas Vietnam (OGAV) exhibition 2017 is the only specialized event in Vietnam that brings together an international…

read more >

FPSO Europe Congress 2018

The FPSO Europe Congress 2018 builds on these themes, lending a particular focus to FPSO Value Preservation and Operational Excellence…

read more >

Arabia 2018 Conference and Exhibition

Offshore Arabia is a focused prestigious meeting place of the Offshore Industry, and it’s diverse spectrum from the Oil & Gas…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you’ll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you’ll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you’ll reach countless professionals in the sector. For more information, click below...

apply