Lundin updates Indonesian ops

The following is an excerpt taken from Swedish oil gas firm Lundin Petroleum?s Interim report for the financial year ended 31 March 2010 released on Wednesday (ed).

Salawati Island and Basin (Papua)
The net production from Salawati (Salawati Island WI 14.5%, Salawati Basin WI 25.9%) was 2,200 boepd for the period.

An exploration well, North Walio-1, was successfully completed as an oil discovery and is now producing through the Salawati Basin facilities.

Lematang (South Sumatra)
Production has commenced from the Singa gas field (W.I. 25.9%). Production will reach the plateau rate of gross 50 MMscfd (net Lundin Petroleum 2,000 boepd) during the second half of 2010. The original Singa gas sales agreement with PT PLN (Persero), an Indonesian state owned electricity company, was amended in February 2010 incorporating an increased gas price at in excess of USD 5 per million British thermal units (MMbtu) and to allow PT PGN (Persoro), an Indonesian state owned gas distributor, to buy the first three years of Singa gas production.

Rangkas (Java)
A 474 km 2D seismic acquisition programme will be completed in 2010 on the Rangkas Licence (WI 51%).

Baronang/Cakalang (Natuna)
A 975 km2 3D seismic acquisition programme on the Baronang and Cakalang licences (WI 100%) was completed in April 2010. (end of excerpt)