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

To: ISPYOIL who wrote (883)	12/15/1998 5:48:00 PM
From: Tomas	Respond to of 2742

The OGJ article on PM-3: Malaysian state firm Petronas is considering indefinitely suspending Phase II development of Block PM-3 in the Commercial Arrangement Area (CAA) between Malaysia and Viet Nam (OGJ, Nov. 16, 1998, p. 27), according to industry sources. Five oil and gas fields-Bunga Kekwa, Bunga Raya, Bunga Pakma, Bunga Seroja, and Bunga Orkid-have been discovered on the block, but the geology is complex, and more than 100 separate reservoirs have been identified. Petronas already has more' oil and gas production than it can market and is looking at delaying future output until demand warrants, said the sources. The block is operated by Lundin Oil, with other interests held by Petronas Carigali and PetroVietnam Exploration & Production.