Lundin Petroleum Q2 Indonesian activities
Wednesday, August 15 2007 - 06:33 AM WIB
The following is excerpt from Swedish oil company Lundin Petroleum AB Interim Report for the quarter ended 30 June 2007:
|
Production & Sales
|
1 Jan 2007-
30 Jun 2007 6 months |
1 Apr 2007-
30 Jun 2007 3 months |
1 Jan 2006-
30 Jun 2006 6 months |
1 Apr 2006-
30 Jun 2006 3 months |
1 Jan 2006-
31 Dec 2006 12 months |
|
Production
|
|||||
|
- Quantity in mboe
|
495.8
|
232.4
|
424.2
|
214.7
|
904.1
|
|
- Quantity in mboepd
|
2.7
|
2.6
|
2.3
|
2.4
|
2.5
|
|
Sales
|
|||||
|
- Quantity in mboe
|
351.7
|
135.3
|
207.0
|
117.0
|
634.1
|
|
- Average price per boe (in US$)
|
60.91
|
66.95
|
58.06
|
62.80
|
58.65
|
Salawati
The net production from Salawati (
Lematang (
The approval of the plan of development for the Singa gas field (WI 25.88%) by the Indonesian regulatory authorities was received in 2006. In 2007 a gas sales agreement was signed with PT PLN (PERSERO), a major Indonesian electricity generating company to supply a gross contracted volume of 133 billion cubic feet. Commissioning and first gas from the Singa field is forecast for 2009 at production rates net to Lundin Petroleum in excess of 2,000 boepd.
In the first half of 2007 Lundin Petroleum completed the acquisition of an additional 10 percent working interest in the Lematang block from Serica Energy, increasing our interest to 25.88 percent.
Blora (Java)
The Tengis-1 exploration well (WI 43.3 %) was spudded in May 2007 and the well reached its total depth in early August. The main target reservoir was encountered as expected. However during logging operations difficulties were encountered due to the overall hole conditions. As a result of the data acquired whilst drilling, a decision has been made to sidetrack the well with a forecast completion in September 2007. A separate higher reservoir which is interpreted as gas bearing from the log analysis will be tested following completion of the sidetracked well. (end of report)