From Business Times – Sweden’s Lundin gets majority interest in block


Dateline 2011-06-14:

Sweden’s Lundin Petroleum has won a majority working interest to operate Block PM307 offshore Peninsular Malaysia, further strengthening its presence in the country’s oil and gas industry.

Its subsidiary, Lundin Malaysia B.V., has entered into a deal with Petronas Carigali Sdn Bhd, the exploration and production arm of Petroliam Nasional Bhd (Petronas) early this month.

Under the deal, Lundin bought a 75 per cent interest and operatorship, while Petronas Carigali holds the remaining 25 per cent interest.

With Block PM307, Lundin now operates a total of six blocks in Malaysia. The blocks in Peninsular Malaysia are PM307, PM308A and PM308B, which are contiguous.

The blocks in Sabah consist of SB303, SB307 and SB308, which are also contiguous

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This entry was posted on Tuesday, June 28th, 2011 at 6:00 am and is filed under Malaysia, oil and gas. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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