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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden) -- Ignore unavailable to you. Want to Upgrade?

To: Tomas who wrote (2624)	7/9/2001 8:41:48 PM
From: Tomas	Read Replies (1) \| Respond to of 2742

North Sea: Lundin Oil's Beechnut find Oil&Gas Journal, July 9 Amerada, Ranger to reevaluate 14-year-old Beechnut find in North Sea LONDON, July 9 -- Amerada Hess Ltd. and Ranger Oil UK Ltd. have agreed to a £21 million joint drilling program to evaluate oil and gas discovered 14 years ago in the Beechnut area of the UK sector of the North Sea. Backed by personnel seconded from Ranger, Amerada will head an exploration and evaluation campaign on UK North Sea Blocks 29/9a south and 29/9b that will involve drilling an appraisal well of Beechnut North and exploring Beechnut South. Amerada said the wells will be drilled starting in late August from a single location, with provision being made for a further sidetrack to appraise the second of these targets "if appropriate." A rig was being sought for the 120-day program. Beechnut is in one of the so-called "cluster" areas that government-industry task force Pilot's undeveloped discoveries workgroup identified last July. As operator of Block 29/9b, Amerada began development discussions that led to the agreement to revisit the area. Amerada's reserves estimates for the Beechnut area were not disclosed. Nick Fairbrother, managing director of Amerada Hess Ltd., said the Pilot workgroup was "now starting to pay real dividends." He said, "The impetus and focus provided by Pilot have provided a solid way forward on Beechnut. A successful drilling program would not only be good news for Amerada Hess, Ranger, [and partners] Lundin Oil AB, and PanCanadian Petroleum Ltd., but for the UK oil and gas industry as a whole." Among the development scenarios being studied in the expectation of a successful drilling program, said Amerada, is a tieback to the nearby Ranger-operated Kyle facilities on Block 29/2c, being produced via the Maersk Curlew FPSO.

To: Tomas who wrote (2624)	7/12/2001 10:13:23 PM
From: Tomas	Read Replies (1) \| Respond to of 2742

Lundin Oil: Wraps are off $200m Vietnam pipe plan Upstream, July 13 James Tham PetroVietnam is planning to build a $200 million pipeline to transport offshore gas from the Malaysia-Vietnam Commercial Arrangement Area to industrial users in the south-west of the country. A PetroVietnam official quoted by Reuters said this week that the company was seeking foreign investment to build the pipeline from Lundin Oil's PM-3 block, which lies some 600 kilometres south-west of Ho Chi Minh City in the Malay basin. The Swedish independent is currently implementing phase two of the Bunga Kekwa development, which will deliver maiden gas supplies to Malaysia in 2005. Vietnam has also expressed interest in purchasing the gas but has not specified when it would do so. The official said that PetroVietnam would be the main investor in the planned pipeline but would also be seeking foreign investments. He added that the pipeline would transport gas to a urea and power complex in Ca Mau province in the far south of Vietnam. The official gave no further details but state-run Vietnam Investment Review said a feasibility study for a 280 kilometre pipeline was submitted to the government last week. The newspaper quoted an official from the Planning and Investment Ministry as saying the pipeline would be designed with an annual maximum transmission capacity of 2 billion cubic metres of gas. PM-3 is held by Petronas Carigali (46.06%), Lundin (41.44%) and PetroVietnam (12.5%).