Malaysia: Lundin to operate PM307 block

By OGJ editors
– Lundin Petroleum AB has acquired a 75% interest and operatorship of Block PM307 off peninsular Malaysia from Petronas Carigali Sdn. Bhd., which retains 25% interest.

Block PM307 covers 6,126 sq km and contains a proven oil discovery. Work commitments include 500 sq km of 3D seismic, an appraisal well at the discovery, and an exploratory well.

Lundin Petroleum now operates six blocks in two core areas off Malaysia. The peninsular Malaysia core area consists of PM307, PM308A, and PM308B, which are contiguous. The Sabah core area consists of SB303, SB307, and SB308, also contiguous.

Lundin Petroleum said it is “particularly encouraged by the recent announcement made by the Malaysian government regarding fiscal incentives for small fields that when implemented could accelerate commercialization of the proven discovery that exists within the block.”

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...