Project Profile
Location: Offshore north eastern Indonesia
Area: 5,545 km²
Lundin Petroleum AB through its wholly owned subsidiary, Lundin Sareba BV, has entered into a production sharing contract (PSC) amendment with SKKMigas to substitute the existing Sareba Block acreage with new acreage named Cendrawasih VII (CVII), offshore north eastern Indonesia. Under the amended agreement, Lundin Petroleum is awarded the new Block acreage as a result of the existing Block acreage being declared a protected nature conservation area.
The CVII Block covers an area of approximately 5,545 km² and has been lightly explored. The block contains the shallow water portion of the Mamberamo delta and an undeveloped gas discovery in Pliocene turbidite reservoirs. Large carbonate build ups have also been identified on a 950 km² 3D seismic survey that was acquired in 2009. Lundin Petroleum expects to reprocess the 3D seismic survey prior to possible future drilling. Lundin Petroleum holds a 100% interest in the CVII Block PSC through its subsidiary Lundin Sareba BV.
Operators:
Lundin Petroleum AB: Operator with 100% interest