Kaasuinen Lunttu

LUNDIN PETROLEUM MAKES GAS DISCOVERY, OFFSHORE PENINSULAR MALAYSIA

Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that it has completed Tembakau-1 well in PM307 Block, offshore Peninsula Malaysia, as a gas discovery. Tembakau-1 was a vertical well drilled to a depth of 1,565 metres in 67 metres water depth. The well discovered a series of stacked gas pay sands in the target Miocene objective. Overall the well penetrated approximately 60 m of net gas pay in five high quality sand intervals. Tembakau-1 is located 30 km to the west of the nearest oil and gas infrastructure. An extensive data acquisition program was completed, including rock and fluid samples, pressure profiles and mini-DST's. Following logging the well was plugged and abandoned. Further work will follow to estimate recoverable resource ranges. Ashley Heppenstall, President and CEO of Lundin Petroleum comments: "Tembakau is very encouraging given its location in an unexplored area of PM307. We are hopeful this discovery has the potential to be commercial on a stand-alone basis given its close proximity to existing gas infrastructure and the strong demand for gas in Peninsular Malaysia. The discovery paves the way to evaluate further follow-up potential in an area where Lundin Petroleum acquired a large 3D survey in 2011. The discovery is the second successful well completed in PM307 in 2012 and continues our robust exploration performance in Malaysia that commenced in 2011 with six discoveries made from nine wells drilled."

Pre-drill arvio prospektin koosta oli 60 miljoonaa BOEta. Pre-drill arvioitu CoS 30%. Tuskin menee itsenäisenä projektina tuotantoon. 10km etäisyydellä Tembakausta on kuitenkin puolisen tusinaa poraamatonta prospektia ja joista löytyisi vähintään yksi 30 miljoonan BOE:n kenttä niin nämä varmasti menisivät tuotantoon.

Lupellla putki päällä

12 July 2011

LUNDIN PETROLEUM DISCOVERS GAS IN ITS FIRST MALAYSIAN EXPLORATION WELL

Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that it has discovered gas in the Tarap-1 well that was drilled in Block SB303, offshore Sabah, East Malaysia.

Tarap-1 was drilled with the Offshore Courageous rig in a water depth of approximately 70 meters. The well was directionally drilled to a measured depth of 2,675 metres.

The Tarap discovery is a stratigrahic trap and the well encountered gas in each of the 5 independently sealed stacked Miocene sands targeted. Gross total vertical pay thickness for the sands encountered is approximately 150 metres. An extensive data acquisition program was completed including pressure measurements, sampling and a mini flow test in selected zones.

The data recovered from the well will be analysed further in order to determine a range of resource estimates...

Bruttoahan tuossa on mukavasti, mutta paljonko kaasulla täytettyä kiveä on nettona jää nähtäväksi. Yhtiön presentaatio sanoo(s.36) että pre-drill arvio oli 51 miljoonaa boeta bruttona(37 nettona Lupelle). Minulla ei ole aavistustakaan paljonko maakaasu maksaa Malesiassa, mutta arvioisin että löydön arvo jää alle $200 miljoonaan($5-6 per boe) tässä vaiheessa, jos koko on arvion luokkaa. Etäisyyttä kuivalle maalle näyttäisi olevan noin 40 kilometria, joten voi olla mahdollista että tätä ei kehitetä, jos lähettyviltä ei löydy lisää kaasukenttiä.

"Malaysia oil output falls to 550,000 bpd "

Hellenic Shipping/Reuters:

"Malaysia's crude oil output has fallen to 550,000 barrels per day (bpd) this year from 600,000 bpd in 2008, as ageing fields took their toll after years of steady production levels, Petronas' chief said on Monday. Overall output for both crude oil and condensates fell to 650,000 bpd versus 700,000 bpd last year, Mohd Hassan Marican, Petronas Chief Executive, told Reuters in an interview.
"One needs to accept that (the domestic oilfields) had reached maturity, especially the continental shelf," Hassan said..."

""For oil, it is difficult (to maintain a reserves replacement ratio of around one). Our discoveries are more gas than oil, especially in offshore Sarawak, " Marican added."