Bertam in block PM307 began producing in April from four pre-drilled wells.
Drilling will continue until late-2015 when production is due to peak at 15,000 boe/d.
Lundin estimates reserves at 18 MMboe, with total development costs (excluding those related to the converted FPSO) of $400 million.
Once development drilling is completed, the company plans to spud an exploration well on the block in 4Q targeting the 21-MMboe Mengkuang prospect.
Offshore eastern Indonesia, Lundin is conducting geological and technical studies on the Cendrawasih VII block.
Last November, the company entered into a joint study agreement for the contiguous Cendrawasih VIII block, subsequently commissioning a 2,300-km (1,429-mi) 2D seismic survey over the concession.
The survey extended to 200 km (124 mi) of 2D lines over the Parson prospect in Cendrawasih VII. Processing of these lines has been completed and interpretation is in progress.