Lundin starts exploration work

The independent Swedish oil and gas exploration and production company Lundin Petroleum AB now starts to explore the well Banteng–1 in the Lematang Block, Indonesia.
     The main objective of the well is the Baturaja limestone formation and the total depth is expected to be 3500 meters.
     The structure is a large four way dip closure on trend with the existing Singa field discovery situated just over 10 km to the east and with potential reserves of over 500 billion cubic feet, bcf, of gas.
     Sumatra’s gas market is well developed. It is expected that a gas discovery could be brought on stream in a short time frame.
     In parallel, efforts are continuing for the completion of a gas and sale agreement for the development and sale of gas from the existing Singa discovery situated in the Lematang Block. The Singa field has certified reserves of 167 bcf of gas.
     Lundin Petroleum has a 15, 88 percent working interest in the Lematang Block. The other partners are the operator Medco with 74, 12 percent and PDA 10 percent.
     Besides Indonesia Lundin have oil and gas assets in Albania, France, Holland, Iran, Ireland, Norway, UK, Sudan, Tunisia and Venezuela.

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