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Friday, August 19, 2011

Lundin Spuds Batu Hitam Well Offshore Malaysia

- Lundin Spuds Batu Hitam Well Offshore Malaysia

Friday, August 19, 2011
Lundin Petroleum AB

Lundin has commenced the drilling of the Batu Hitam prospect located in Block PM308A, offshore the east coast of Peninsular Malaysia.

The Batu Hitam-1 well will test the hydrocarbon potential of a large basement high structure located in the east of the PM308A block. The objectives of the well are Oligocene sandstones in a four-way dip closure and fractured pre-Tertiary basement in the underlying horst block.

The planned total depth is 2,450 meters subsea and the well will be drilled using the jackup drilling rig Offshore Courageous. The well is expected to take approximately 40 days.

Lundin Petroleum operates and holds 35 percent interest in PM308A through its subsidiary Lundin Malaysia BV. Partners in PM308A are JX Nippon Oil & Gas Exploration (Peninsular Malaysia) Limited with 40 percent interest and PETRONAS Carigali Sdn. Bhd. with 25 percent.

Lundin Malaysia BV operates 6 Blocks in Malaysia, namely PM308A, PM308B, PM307, SB303, SB307 and SB308.

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