Lundin Petroleum’s wholly owned subsidiary, Lundin Malaysia, has entered into an agreement with Petronas Carigali Sdn Bhd to farm-in to Block PM 307 offshore Peninsula Malaysia.
Under the agreement, Lundin will acquire a 75% operating interest, while Petronas will hold the remaining 25% interest in the block. Block PM 307 spans an area of about 1.5 million acres (6,126 square kilometers) and contains a proven oil discovery. Work commitments of the acreage include 123,553 acres (500 square kilometers) of 3D seismic, an appraisal well on the discovery and an exploration well.
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