Project Profile
Value: US$100 million
Location: PM307 6,126, Malaysia
Area: 1.5 million acres (6,126 square kilometres)
Production: 14,000 boe/d (November 2015)
Water Depth: 76 m / 251 ft
Lundin Petroleum has interests in five exploration licences in Malaysia. Three licences, PM307, PM308A and PM308B, are located in the Penyu Basin, offshore Peninsular Malaysia and SB303 and SM307/308 are situated offshore Sabah. 3D seismic has been acquired in each of the blocks and is currently being interpreted. Exploration drilling is scheduled to commence in 2011. The Bertam field is located in 249 feet (76 metres) of water in the PM 307 Production Sharing Contract area, offshore Peninsular Malaysia. PM 307 PSC is operated by Lundin Malaysia with a 75 percent interest; Petronas holds the remaining interest.
Block PM 307 spans an area of about 1.5 million acres (6,126 square kilometres) and contains a proven oil discovery. In December 2011, the operator spud the Bertam-2 appraisal well. Bertam-2 reached a total depth of 6,181 feet (1,884 metres) by the Offshore Courageous (350’ ILC) jackup. The Bertam-2 well proved the continuity and quality of the K10 oil reservoir sandstone to the northeast of the Bertam-1 discovery well. Deeper sands that formed a secondary exploration target were confirmed to be water-bearing. Upon production testing, a stabilised flow rate of 756 bopd was achieved. Following testing, the well was plugged and abandoned . Production in November 2015 reached 14,000 boe/d.
Operators:
Lundin Petroleum: Operator with 75% interest
Petronas Carigali: 25% interest
Contractors:
TH Heavy Engineering Berhad (THHE): Supply of a new wellhead platform
Technip (Genesis): Early engineering services
Barakah Offshore Petroleum Berhad (through its subsidiary PBJV Group Sdn Bhd): Contract with Lundin Petroleum to provide hook-up, commissioning and topside maintenance services for Lundin’s offshore oil and gas fields in Malaysia. The value of the contract will depend on the work order to be issued by Lundin for the duration of the contract. The contract duration is from 14 August 2014 to 4 February 2016