Lundin in Natuna Sea Joint Studies

Swedish independent E&P firm Lundin Petroleum has embarked on direct joint studies on Gurita block in Natuna Sea.

The area is bordered with a block in Malaysia operated by the Company.

The Company revealed in a presentation released on Monday that it would conduct 3D seismic on the block in 2011 may proceed with drilling of one well in 2013.

Under the Indonesian exploration acreages award system, the Company would have first right to obtain the block should it decide to proceed to explore the block.

The Company has already operated two exploration blocks in Natuna, namely Cakalang and Baronang blocks.

Meanwhile, the Company also disclosed that it would drill one exploration well in Rangkas PSC onshore West Java in the second quarter of 2012 and two wells in Baronang PSC offshore Natuna starting late 2011. (alex)