Lundin enters farm out deals in Malaysia

Lundin

Lundin Petroleum has signed farm-out agreements (FOA) with DYAS for part of its working interests across three Production Sharing Contracts (PSC) in Malaysia.

Ahead of the recently started exploration campaign in the Sabah region, offshore East Malaysia, Lundin Malaysia has entered into farm-out agreements with DYAS covering Blocks PM328, SB307/308 and gas holding areas in SB303 with an effective date of July 1, 2015.

The terms of the farm-out agreements are as follows:

– PSC SB307/308: DYAS to be transferred a 20 percent working interest for paying a promote on certain forward costs in relation to the upcoming exploration campaign on Block SB307/308 in the Sabah region offshore East Malaysia.

– PSC SB303: DYAS to be transferred a 20 percent working interest in the gas holding area in Block SB303 in Sabah, offshore East Malaysia.

– PSC PM328: DYAS to be transferred a 15 percent working interest in PM328 in the Malay basin, offshore Peninsular Malaysia.

Subsequent to this transaction, Lundin Petroleum holds a 65 percent working interest in SB307/308, a 55 percent working interest in SB303 and a 35 percent working interest in PM328.

DYAS is a Dutch, privately owned, and active non-operating minority partner and investor in oil and gas exploration and production projects, with a portfolio of assets primarily located in the Netherlands and UK North Sea.

Completion of this transaction is subject to approval from relevant authorities.

Share this article

Follow Offshore Energy Today

Events>

<< Feb 2020 >>
MTWTFSS
27 28 29 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 1

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

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