Lundin abandons Blora exploration well

Swedish oil and gas exploration and production company Lundin Petroleum AB reported Tuesday it had plugged and abandoned the first exploration well in Blora production sharing contract onshore Central Java after the well encountering uncommercial quantities of hydrocarbons.

The PADI-1 exploration well was drilled on the ?Millir? prospect, which is believed to contain gross reserves over 50 million barrels of oil.

Lundin operates Blora PSC with a 43.3 percent of working interest, while Kuwaiti KUFPEC and CNOOC hold 40 percent and 16.7 percent, respectively. (Robert)