Lundin extends acreage offshore Malaysia

Offshore staff

STOCKHOLM, Sweden – Lundin Malaysia has agreed to acquire a 50% operating interest in PM328 offshore Malaysia from Petronas Carigali.

The block is northeast of PM307, which is also operated by Lundin Malaysia. It covers an area of 5,600 sq km (2,162 sq mi).

The initial term for the production-sharing contract is three years. Within the first 18 months Lundin has committed to acquire 600 sq km (231 sq mi) of 3D seismic, with the option to either drill one well in the remaining period, or hand back its interest to Petronas.

09/25/2014

 

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