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Lundin Petroleum AB signs new PSC in Indonesia
Nordic Business Report, May 27, 2008
NORDIC BUSINESS REPORT-27 May 2008-Lundin Petroleum AB signs new PSC in Indonesia(C)1994-2008 M2 COMMUNICATIONS LTD http://www.m2.com
Swedish independent oil and gas company Lundin Petroleum AB (OMX Stockholm:LUPE) said on Wednesday (27 May) that it has signed a new production sharing contract (PSC) for the Rangkas Block with BPMIGAS, the Indonesian oil and gas regulating authority in Jakarta.
The Rangkas Block is located in the West Java Basin, onshore West Java and covers an area of approximately 4,000 square kilometres.
Previous drilling in the block and surface oil seeps have confirmed an active petroleum system, the company added.
Lundin Petroleum holds a 100% interest in the Rangkas Block PSC.
Lundin Petroleum, headquartered in Stockholm, Sweden, is an independent oil and gas exploration and production company with assets in Europe, Africa, Russia and the Far East. The company's existing proven and probable reserves amount to over 184m barrels of oil equivalent.
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