Lundin allocates $45m for exploration in Indonesia
Wednesday, January 8 2014 - 01:37 PM WIB
By Romel S. Gurky
Swedish oil and gas firm Lundin Petroleum AB announced on Wednesday that its budgeted net exploration expenditure in Indonesia for 2014 is approximately US$45 million.
Two exploration wells will be drilled in Baronang block (Balqis and Boni wells) and one well will be drilled in Gurita block (Gobi-1, formerly Gloria A, well). Both blocks are located in Natuna Sea
Net unrisked prospective resources targeted with these three wells total 115 mmboe. The Hakuryu-11 jack-up rig has been contracted to drill all three wells.
Editing by Johannes Simbolon