Lundin receives Petronas’ approval for the Bertam field development plan

10/10/2013

Lundin receives Petronas’ approval for the Bertam field development plan

STOCKHOLM -- Lundin Malaysia BV, a subsidiary of Lundin Petroleum, has received approval for the Bertam field development plan from Petronas.

The Bertam field is the first development project operated by Lundin Petroleum in Malaysia. The field is located in Block PM307, offshore Peninsular Malaysia. Lundin Malaysia BV, as operator, holds a 75% working interest and PETRONAS Carigali holds the remaining 25% working interest.

The Bertam field will be developed using a 20 slot Wellhead Platform adjacent to a spread moored FPSO in a water depth of 76 m. The subsurface development concept consists of 14 horizontal wells completed with ESP's. The total gross capital investment associated with the Bertam field development, excluding any FPSO related costs, is estimated at approximately $400 million.

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