SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: balisurf who wrote (755)6/2/1999 10:57:00 AM
From: Tomas  Read Replies (1) of 2742
 
Malaysia: Bunga back in favour - Upstream, May 28

Lundin Oil is aiming to drill additional development wells on its Bunga Kekwa field in block PM-3 in the Malaysian/Vietnam Commercial Arrangement Area (CAA) in an attempt to maximise production and revenues before the second development phase is implemented, writes Amanda Battersby.

The operator is also considering further incremental oil projects to boost phase-one output, which was averaging some 13 000 barrels per day at the end of the first quarter of 1999. Production is via a lightweight platform and a floating production, storage and offloading vessel.
"What the partners will have to do is identify where they can produce liquids without having to produce or re-inject any gas output." A consultant source said.
The planned second phase of the PM3 development was originally due to come onstream in December 2000. It was put on hold because of the oil price crash and the Asian economic crisis.

However, Lundin is now in "close consultation" with partners Petronas Carigali and Petro Vietnam to agree a new time-table for the project. Phase-two production had been envisaged at an initial rate of at least 40.000 bpd and 250 million cubic feet per day of gas.
The block's total proven and probable reserves stood at 380 million barrels of oil equivalents at the beginning of last year, and industry sources said conservative estimates now are above 500 million boe.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News