Lundin Fails to Find Hydrocarbon at Kitabu-1 Prospect Offshore Sabah

Sweden's Lundin Petroleum AB (Lundin Petroleum) reported Tuesday that it has completed the Kitabu-1 well located in Blocks SB307/SB308, offshore Sabah, Malaysia.

Objectives of the Kitabu-1 well were Miocene aged turbidite sands of similar age to the Shell operated South Furious 30 oil field, approximately 2.48 miles (four kilometers) to the north. However the primary reservoir interval resulted in being a poor quality siltstone, and no hydrocarbon shows were encountered in the well.

The well has reached planned total depth of 7,447 feet (2,270 meters) and is to be plugged and abandoned as a dry hole.

Lundin Petroleum holds 42.5 percent interest in Blocks SB307/SB30 through its wholly owned subsidiary Lundin Malaysia BV. Partners are EnQuest with a 42.5 percent interest and Petronas Carigali Sdn Bhd with a 15 percent interest. Lundin Malaysia BV operates seven blocks in Malaysia, namely, PM307, PM308A, PM308B, PM319, PM328, SB303 and SB307/SB308.

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