Lundin starts to drill Maligan exploration well off East Malaysia

Lundin Malaysia BV, a wholly owned unit of Lundin Petroleum AB, Stockholm, has started to drill the Maligan exploration well on Block SB307/SB308 offshore East Malaysia.

The Maligan prospect is in shallow water and lies north of a major producing field offshore East Malaysia. The well will target hydrocarbons in Miocene aged sands.

Maligan will be drilled using Seadrill Ltd.’s West Prospero jack up rig to a total depth of 1,700 m below mean sea level. The well is expected to take 30 days to drill.

Lundin Malaysia holds 85% working interest in SB307/SB308. Partner Petronas Carigali Sdn. Bhd. holds the remaining interest.

Separately, Lundin Petroleum reported its 2016 development, appraisal, and exploration budget will reach $1.08 billion, which is 26% below its 2015 capital expenditures. The company’s 2016 budgeted expenditures on exploration and appraisal activity will hit $145 million, which is a 64% decrease compared with exploration and appraisal spend in 2015.

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


Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...

Maximizing Operational Excellence

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