Sweden's Lundin Petroleum reported Thursday that Petronas has given its subsidiary, Lundin Malaysia, approval for the Bertam field development plan (FDP).
Bertam, located in Block PM307 offshore Peninsular Malaysia, will be developed using a 20-slot wellhead platform adjacent to a spread-moored FPSO vessel in a water depth of approximately 250 feet. The subsurface development concept consists of 14 horizontal wells complete with electrical submersible pumps. The total cost of the development is estimated at approximately $400 million, not including FPSO-related costs.
Lundin CEO Ashley Heppenstall commented in a company statement:
"The approval from Petronas of the Bertam field development plan is a major achievement for the South East Asia business. We have built an experienced project team with strong record of completing similar projects and are confident we have the capability to deliver this major project on schedule and on budget."
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