Lundin updates Indonesian ops

The following is an excerpt taken from Swedish oil gas firm Lundin Petroleum?s quarterly report ended 30 September 2014 released on Wednesday.

Production

Lematang (South Sumatra)

Production in Mboepd	WI	1 Jan 2014- 30 Sep 2014 9 months	1 Jul 2014- 30 Sep 2014 3 months	1 Jan 2013- 30 Sep 2013 9 months	1 Jul 2013- 30 Sep 2013 3 months	1 Jan 2013- 31 Dec 2013 12 month
Singa	25.9%	1.5	1.5	1.6	1.6	1.6

The production was slightly below forecast due to certain facility issues during the reporting period. The operator of the Singa field has informed that the planned two week shut-in of the field has been deferred from the third quarter of 2014 to the fourth quarter of 2014. The purpose of the shut-in is to allow for a re-routing of the pipeline which will increase the production from the Singa field . In early 2014, a revised gas sales agreement was put in place for the Singa field resulting in an increased gas sales price of USD 7.97 per million British Thermal Units (MMbtu) compared to the previous price of USD 5.20 per MMbtu with an effective date of 2 January 2014.

Exploration

Baronang/Cakalang (Natuna Sea)
Exploration drilling on the Balqis and Boni prospect in the Baronang Block (WI 85%) in the Natuna Sea, was completed during the reporting period. Both wells encountered good quality reservoirs at the projected Oligocene level but neither well encountered any hydrocarbons and have been declared as dry holes. Lundin Petroleum is planning to relinquish both the Baronang and the Cakalang Blocks.

Gurita (Natuna Sea)
In October 2014, Lundin Petroleum announced that the exploration well on the Gobi prospect in the Gurita Block (WI 90%) was unsuccessful and is being plugged and abandoned as a dry hole.

South Sokang (Natuna Sea)
A 3D seismic acquisition programme of 1,000 km? has been completed on the South Sokang Block (WI 60%) in 2013. The seismic processing and interpretation is substantially complete with both oil and gas prospectivity identified at Miocene and Oligocene levels.

Cendrawasih VII (Papua)
Lundin Petroleum is undertaking geological and technical studies on the Cendrawasih VII Block (WI 100%), offshore eastern Indonesia. (end of excerpt)