Lundin Spuds Gobi-1 Well in Natuna Sea with Hakuryu-11 Jackup

Lundin Petroleum AB (Lundin Petroleum) announced Monday that it has commenced exploration drilling in the Gurita Production Sharing Contract (PSC), Natuna Sea, Indonesia.

Gobi-1 is a wildcat oil exploration well designed to test the hydrocarbon potential of Oligocene and Early Miocene stacked fluvial reservoirs in a 3-way fault dependent structure in the Jemaja Basin.  

Lundin Petroleum estimates the Gobi prospect to have the potential to contain unrisked, gross, prospective resources of 25 million barrels of oil equivalent (MMboe). The planned total depth is 7,874 feet (2,400 meters) below mean sea level (MSL) and the drilling and evaluation is expected to take approximately 30 days using the Hakuryu-11 (425' ILC) jackup.

Lundin Petroleum, through its wholly owned subsidiary Lundin Gurita BV, is the operator and has a 90 percent working interest in the Gurita PSC. Partner is Nido Petroleum Limited with 10 percent working interest.

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