Lundin hits oil in joint development area off Viet Nam

Lundin Oil AB, through its wholly owned subsidiary Lundin Malaysia Ltd., Wednesday announced an oil discovery on Block PM-3 CAA in a joint development area off Malaysia and Viet Nam. The East Bunga Raya No. 1 well encountered seven oil zones.


By the OGJ Online Staff

HOUSTON, May 9 -- Swedish producer Lundin Oil AB, through its wholly owned subsidiary Lundin Malaysia Ltd., Wednesday announced an oil discovery on Block PM-3 CAA in a joint development area off Malaysia and Viet Nam.

The East Bunga Raya No. 1 encountered seven oil zones. The main oil zone was production tested and flowed at 5,500 b/d.

Total net pay in the well was 168 ft of oil. A reassessment of the reserves is underway.

Lundin said the additional hydrocarbon reserves delineated by the well can be developed using excess capacity from the planned Phase 2 infrastructure with minor processing and production debottlenecking refinements.

The operator, Lundin Malaysia Ltd., holds a 41.44% interest. Partners are Petronas Carigali Sdn. Bhd., 46.06%, and PetroVietnam Exploration & Production 12.5%.

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