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Lundin spuds exploration well in Indonesia’s Natuna Sea

STOCKHOLM, Sweden -- Lundin Petroleum AB has commenced exploration drilling in the Baronang PSC, Natuna Sea, Indonesia, using the drilling rig Hakuryu 11. Balqis-01 will be followed by a sidetrack, Boni-01.

Balqis-01 is a wildcat oil exploration well designed to test the hydrocarbon potential of Tertiary sands draped over a prominent Basement high. The main objectives of the well are Oligocene fluvial sandstone reservoirs in stacked four-way dip closures. Lundin estimates the Balqis prospect to have the potential to contain unrisked, gross, prospective resources of 47 MMboe. The planned total depth is 2,130 m below mean sea level (MSL) and the drilling and evaluation is expected to take approximately 20 days.

The drilling of Balqis-01 shall be immediately followed with the drilling of Boni-01 as a side track to the Balqis-01 vertical well with an offset distance from Balqis-01 (at TD) of 820 m drilled to test a deeper independent stratigraphic play concept. Boni-01 is designed to test the hydrocarbon potential of early to late Oligocene fluvial sandstone reservoirs in stacked stratigraphic traps against a prominent basement high. Lundin Petroleum estimates the Boni prospect to have the potential to contain unrisked, gross, prospective resources of 55 MMboe. The planned total vertical depth is 2,300 m below MSL and the drilling is expected to take approximately 5 days.

Lundin Petroleum, through its wholly owned subsidiary Lundin Baronang BV, is the operator and has a 90 percent working interest in the Baronang PSC. Partners are Nido Petroleum Limited with 10 percent working interest. Lundin operates five PSCs in Indonesia, namely Baronang, Cakalang, Gurita, South Sokang and Cendrawasih VII.

02/17/2014

 

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