PETRONAS, Partners Gain from Malaysia’s Production Sharing Contracts

January 3, 2016

Dateline 2015-11-25, Rigzone:

Sweden’s Lundin Petroleum AB, when announcing the sale of upstream oil and gas assets in Indonesia to PT Medco Energi Internasional Tbk (Medco) last month, reiterated the importance of Malaysia to the firm’s growth strategy in Southeast Asia. Lundin after all operates several production sharing contracts (PSCs) in the country.

“We remain committed to our growth strategy in Southeast Asia where Malaysia continues to be one of Lundin Petroleum’s core areas,” Alex Schneiter, president and CEO of Lundin Petroleum said in an Oct. 9 press release.

The Swedish firm, which currently operates six PSCs in Malaysia – PM307, PM319, PM308A, PM308B, PM328 and SB307/308 – mainly in partnership with PETRONAS Carigali Sdn Bhd discovered gas at Mengkuang-1 exploration well in Block PM307 offshore Malaysia Oct. 26.


Small discovery, but big hopes at Malaysian natural gas field

January 2, 2016

Dateline 2015-10-26, UPI:

Swedish energy company Lundin Petroleum announced it made a small gas discovery off the coast of Malaysia, where it’s placed much of its recent focus.

Lundin said it ran though a 30-foot column of natural gas in an exploration well in the deepwater Bertram field off the coast of Malaysia. The size of the discovery was considered small, though Lundin provided no details on the commercial gas prospects expected after completing the exploration well.

 


Lundin commences Selada exploration well, offshore Malaysia

December 15, 2015

Dateline 2015-11-10, Scandinavian Oil & Gas (Yea, Baby! in an Austin Powers’ voice):

Lundin Petroleum says that its wholly owned subsidiary Lundin Malaysia BV has commenced drilling of the Selada-1 exploration well in Block PM308A, offshore Malaysia.

The well will target hydrocarbons in Miocene aged sands and is located 14 km to the south of the Bertam field operated by Lundin Malaysia.

The Selada-1 exploration well will be drilled with the West Prospero jack-up rig to a total depth of approximately 1,700 metres below mean sea level. The drilling of the well is expected to take approximately 30 days.


Lundin Petroleum resumes exploration drilling in Malaysia with the Mengkuang-1 well

November 6, 2015

Dateline 2015-10-02, Your Oil & Gas News (I kid you not):

Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that its wholly owned subsidiary Lundin Malaysia BV (Lundin Malaysia) has resumed exploration drilling in Malaysia with the spud of Mengkuang-1 exploration well in license PM307, offshore Malaysia.

The well will target hydrocarbons in Miocene aged sands 75 km to the northwest of the Bertam field operated by Lundin Malaysia.

Mengkuang-1 will be drilled with the West Prospero jack-up rig to a total depth of approximately 1,300 metres below mean sea level. The drilling of the well is expected to take approximately 30 days.

Lundin Malaysia holds 75 percent working interest in PM307. Partner is PETRONAS Carigali Sdn Bhd with 25 percent working interest. Lundin Malaysia operates six blocks in Malaysia, namely PM307, PM319, PM308A, PM308B, PM328 and SB307/308.


Lundin produces first oil from offshore Malaysia

May 24, 2015

Dateline 2015-04-14, UPI:

Swedish energy company Lundin Petroleum declared victory Tuesday after announcing its first volumes of oil produced from a field off the coast of Malaysia.

Lundin announced its Malaysian subsidiary started commercial production from the Bertam field using four pre-drilled development wells. Peak production of 15,000 barrels of oil per day is expected by late 2015.

“Bertam is our first development project in Malaysia and as such we are very pleased to have achieved first oil safely, on schedule and within budget,” Lundin President and Chief Executive Officer Ashley Heppenstall said in a statement.


Lundin plugs and abandons Kitabu-1 offshore Malaysia

January 25, 2015

Dateline 2014-11-18, Oil & Gas Technology:

Kitabu-1 exploration well, offshore Sabah, Malaysia, has been completed as a dry hole, according to the operator Lundin Petroleum

Kitabu-1 exploration well, offshore Sabah, Malaysia, has been completed as a dry hole, according to the operator Lundin Petroleum

The primary reservoir interval resulted in being a poor quality siltstone, and no hydrocarbon shows were encountered in the well

Lundin Petroleum AB (Lundin Petroleum) has completed the Kitabu-1 well located in Blocks SB307/SB308, offshore Sabah, Malaysia.

The well has reached planned total depth of 2,270 metres and is to be plugged and abandoned as a dry hole.

Objectives of the Kitabu-1 well were Miocene aged turbidite sands of similar age to the Shell operated South Furious 30 oil field, approximately four kilometres to the north.

 


Lundin spuds Kitabu wildcat offshore Malaysia

December 28, 2014

Dateline 2014-10-27, Oil & Gas Technology:

Lundin Petroleum has spud the Kitabu-1 exploration well in Block SB307/308, offshore Sabah, Malaysia

Lundin spuds Kitabu wildcat offshore Malaysia

Lundin Petroleum estimates the Kitabu prospect to have the potential to contain unrisked, gross prospective resources of 71 million barrels of oil equivalent

The Kitabu prospect is a stratigraphic trap located four kilometres to the north of the Shell-operated producing South Furious 30 oil field with target reservoirs in onlapping turbidite sandstones of the same Miocene sequence.

Lundin Petroleum estimates the Kitabu prospect to have the potential to contain unrisked, gross prospective resources of 71 million barrels of oil equivalent.


Lundin Petroleum acquires interest in block offshore Malaysia

December 2, 2014

Did you know that the Oil & Gas Journal has been published  since 1902? Someone gift me a subscription. And who are E&P Malaysia Venture?

Dateline 2014-09-25:

Lundin Malaysia BV, a wholly owned unit of Lundin Petroleum AB, has entered into agreements to acquire 50% interest in PM328, and operatorship of the block, from Petronas Carigali. The effective date of the transaction Aug. 31.

PM328 lies offshore Malaysia, northeast of PM307, which is also operated by Lundin Malaysia. PM328 covers an area of 5,600 sq km.

The initial production-sharing contract term is for 3 years. Within the first 18 months, Lundin Malaysia has committed to undertake the acquisition of 600 sq km 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 without penalty.

The remaining interest in the block will be held by Petronas (40%) and E&P Malaysia Venture Sdn. Bhd. (10%).


Lundin’s Tembakau appraisal in Malaysia successful

October 17, 2014

Dateline 2014-08-06, Reuters:

Swedish oil firm Lundin Petroleum successfully completed appraisal drilling on its Tembakau gas discovery in Malaysia and will now consider development options for the prospects, it said on Wednesday.

“The appraisal drilling results from Tembakau are positive,” Chief Executive Ashley Heppenstall said in a statement. “We will now move forward in reviewing conceptual development options and I am hopeful that this will lead to another commercial development project in Malaysia.”

 


Lundin Petroleum Commences Tembakau Appraisal Well in Malaysia

August 16, 2014

Dateline 2014-06-19, WSJ:

Lundin Petroleum AB (TSX:LUP)(OMX:LUPE) (Lundin Petroleum) is pleased to announce that it has commenced the first well in its 2014 Malaysian drilling campaign with the spud of the Tembakau-2 appraisal well in Block PM307, offshore Malaysia.

The well will target stacked gas reservoirs in Miocene aged sands in a large, low-relief, structure discovered by Lundin Petroleum’s Tembakau-1 in late 2012. The discovery well penetrated 60 metres of net gas sands in five high quality sand intervals between 800 metres and 1,250 metres subsea. The appraisal well will core the main reservoir section and is expected to confirm the extent and quality of the gas reservoirs 3.7 kilometres to the south of Tembakau-1. Deliverability will be measured through production testing.