Lundin reports Indonesian 2006 operation results
Wednesday, February 21 2007 - 06:40 AM WIB
Salawati Island and Basin (Papua)
The net production from Salawati (Salawati Island WI 14.5% and Salawati Basin WI 25.9%) was 2,500 boepd during the period. First production from the TBA field offshore Salawati Island was achieved during the third quarter of 2006 following the successful installation of a FPSO facility. The TBA field is currently producing at approximately 700 boepd net to Lundin Petroleum.
Banyumas (Java)
The Jati-1 exploration well (WI 25%) was plugged and abandoned as uncommercial in the first half of 2006.
Blora (Java)
The Tengis-1 exploration well (WI 43.3%) has been delayed due to issues associated with field regulatory approvals and will now be drilled in 2007.
Lematang (South Sumatra)
A plan of development for the Singa gas field (WI 25.88%) was approved by the Indonesian regulatory authorities in the fourth quarter of 2006. A gas sales agreement is currently being negotiated to supply gas to customers in West Java. First gas from the Singa development is forecast for 2009. Lundin Petroleum signed an agreement in June 2006 to acquire an additional 10% working interest in the Lematang block from Serica Energy plc for USD 5 million. The deal was completed in February 2007 and Lundin Petroleum now owns a 25.88% working interest in the Lematang block containing the Singa field. (end of report)
