Sweden’s Lundin becomes operator of Malaysian offshore block

Swedish oil company Lundin Petroleum has acquired a 50 percent interest in PM328, and operatorship of the block, offshore Malaysia, from PETRONAS Carigali.

The effective date of the transaction is 31st August 2014. PM328 is located offshore Malaysia, north east of PM307 which is also operated by Lundin Malaysia. PM328 covers an area of 5,600 square kilometres.

The initial PSC term is for 3 years; within the first 18 months Lundin Malaysia has committed to undertake the acquisition of 600 square kilometres of 3D seismic.

Lundin Malaysia then has the option to commit to drilling one well in the remaining 18 months, or elect to hand back its interests to PETRONAS Carigali without penalty.

The remaining interest in the block will be held by PETRONAS Carigali 40 percent and E&P Malaysia Venture Sdn Bhd 10 percent.

 

September 25, 2014

 

Share this article

Follow Offshore Energy Today

Events>

<< Jun 2019 >>
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 30

OWI LATAM 2019

Over the two-day conference, 25+ expert speakers will share exclusive insight on how to develop an integrity, production and P&A strategy…

read more >

Nigeria Oil & Gas Conference & Exhibition 2019

The annual meeting once again proved to be a great success, gathering over 700 industry professionals…

read more >

08th OIL & GAS AFRICA 2019 CONFERENCE

OIL & GAS AFRICA is one of the most prime regional & international Oil and Gas conferences in East Africa…

read more >

Gas Indonesia Summit 2019

Gas Indonesia Summit & Exhibition is returning for the fourth edition in Jakarta…

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