STOCKHOLM (Yosefardi) – Lundin Petroleum AB has set aside US$45 million for exploration activities in Indonesia this year as part of its global US$2.1 billion budget.
“Two exploration wells will be drilled on Barongang and one well will be drilled on Gurita,” said Lundin in a statement made available to Yosefardi.biz today.
Lundin has 90% economic interest in Baronang block, where Balqis-1 and Boni-1 wells will be drilled. Lundin also has 90% economic interest in Gurita block, where Gobi-1 well will be drilled.
Total net unrisked prospective resources targeted with these three wells is 115 MMboe. The Hakuryu-11 jack-up rig has been contracted to drill all three wells.