Lundin completes Balqis exploration well offshore Indonesia

Lundin Petroleum AB has completed exploration drilling of the Balqis prospect in the Baronang production-sharing contract (PSC) in the Natuna Sea off Indonesia.

Preliminary analysis of wireline logs indicates that the well encountered the targeted Oligocene Upper and Lower Gabus formation sandstone in well-developed reservoirs but no hydrocarbons were encountered. The Balqis-1 well reached basement at a total depth of 2,109 m below mean sea level.

The lower section of the Balqis-1 will now be plugged and abandoned and the drilling of the Boni-1 exploration side-track well will commence below the Balqis-1 9.625-in. casing shoe.

The Boni-1 side-track well will test the stratigraphic on-lap play of the Lower Gabus formation sandstones against the basement 800 m west of the vertical Balqis-1 well.

Lundin Petroleum estimates the Boni prospect to have the potential to contain unrisked, gross, prospective resources of 55 million boe. The planned total vertical depth is 2,300 m below mean sea level over a drilling period of 5 days.

Lundin’s partner Nido Petroleum Ltd. previously exercised its option in accordance with the farm-in agreement to increase its participating interest from 10% to 15% in Baronang, subject to governmental approval.

Lundin Petroleum, through its wholly owned subsidiary Lundin Baronang BV, is Baronang’s operator with 85% working interest.

Lundin operates five PSCs in Indonesia—Baronang, Cakalang, Gurita, South Sokang, and Cendrawasih VII. Baronang and Cakalang were awarded to the company by Indonesia in 2008 (OGJ Online, Nov. 3, 2008).

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