Lundin spuds exploration well offshore Indonesia

Lundin Petroleum AB reported its Balqis-01 exploration well is being drilled in the company's Baronang PSC prospect in the Natuna Sea.

The well is targeting Tertiary sands with its main objectives being the Oligocene fluvial sandstone reservoirs in stacked four-way dip closures. The well is being drilled to 2,130 m below mean sea level.

The company estimates the Balqis prospect to have a gross potential of 47 million boe.

The Boni-01 will be drilled as a sidetrack immediately following the vertical Balqis-01. The Boni-01 is planned as an 820 m offset from total depth of the Balqis-01 and will test early to late Oligocene reservoirs, which the company believes could contain up to 55 million boe.

The Boni-01 will drill to 2,300 m below mean sea level, and the company expects to complete drilling in 5 days.

Lundin has a 90% working interest as operator through its wholly owned subsidiary Lundin Baronang BV. Nideo Petroleum Limited holds 10% working interest as partner.

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