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Lundin Commences Kitabu Exploration Well in Malaysia

Source: www.gulfoilandgas.com 10/27/2014, Location: Asia

Lundin Petroleum AB has spud the Kitabu-1 exploration well in Block SB307/308, offshore Sabah, Malaysia.

The Kitabu prospect is a stratigraphic trap located four kilometres to the north of the Shell-operated producing South Furious 30 oil field with target reservoirs in onlapping turbidite sandstones of the same Miocene sequence. Lundin Petroleum estimates the Kitabu prospect to have the potential to contain unrisked, gross prospective resources of 71 million barrels of oil equivalent.

Kitabu-1 is a vertical well to be drilled by the jackup rig West Prospero to a depth of 2,270 metres in approximately 50 metres water depth. The drilling of the well is expected to take approximately 35 days.

Lundin Petroleum holds a 42.5 percent interest in Block SB307/308 through its subsidiary Lundin Malaysia BV. Lundin Malaysia BV's partners are EnQuest with a 42.5 percent interest and Petronas Carigali with a 15 percent interest. Lundin Malaysia BV operates seven blocks in Malaysia, namely PM307, PM308A, PM308B, PM319, PM328, SB303 and SB307/308.

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