Lundin Petroleum AB (Lundin Petroleum) has completed the Batu Hitam exploration well located in Block PM308A, offshore the east coast of Peninsular Malaysia.
The Batu Hitam-1 well tested the hydrocarbon potential of a large basement high structure located in the east of the PM308A block. The objectives of the well were Oligocene sandstones in a four-way dip closure and fractured pre-Tertiary basement in the underlying horst block.
The well found the target Oligocene sandstones to be present with good reservoir quality containing gas with high concentrations of carbon dioxide. The well was plugged and abandoned as a dry hole.
The Offshore Courageous rig will now move to drill the Janglau-1 prospect located 47 km north of Batu Hitam-1. Janglau-1 will test a new play concept in an independent sub-basin in the same block.
Lundin Petroleum operates and holds 35 percent interest in PM308A through its subsidiary Lundin Malaysia BV. Partners in PM308A are JX Nippon Oil & Gas Exploration (Peninsular Malaysia) Limited with 40 percent interest and PETRONAS Carigali Sdn. Bhd. with 25 percent.
Lundin Malaysia BV operates 6 Blocks in Malaysia, namely PM308A, PM308B, PM307, SB303, SB307 and SB308.
Lundin Petroleum is a Swedish independent oil and gas exploration and production company with a well balanced portfolio of world-class assets in Europe, South East Asia, Russia and Africa. The Company is listed at the NASDAQ OMX, Stockholm (ticker “LUPE”) and at the Toronto Stock Exchange (TSX) (ticker “LUP”). Lundin Petroleum has proven and probable reserves of 187 million barrels of oil equivalent (MMboe).
[mappress] Source:Lundin Petroleum ,September 20, 2011; Image:Seadrill