• Wednesday, 16 May, 2012

Lundin awarded South Sokang PSC

epa00985214 A victim of the Lapindo mudflow disaster shouts slogans during a rally outside the Presidential Palace in Jakarta, Indonesia, 17 April 2007, demanding compensation for their houses damaged in the disaster. Indonesian President Susilo Bambang Yudhoyono said he would take action against PT Lapindo Brantas Inc., the operator of the gas field blamed for the cause of the mudflow, if it failed to compensate the mudflow victims. The National Development Planning Board (Bappenas) has estimated that the losses caused by the mudflow from Lapindo Brantas gas operations in Sidoarjo, East Java, in the past nine months had reached Rp27.4 trillion, consisting of Rp11.0 trillion in direct and Rp16.4 trillion in indirect losses. EPA/MAST IRHAM

Indonesia: Lundin has been awarded a PSC for the South Sokang Block

EPA/MAST IRHAM

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Josh Lewis , Josh Lewis , Josh Lewis

 07 December 2010 08:47 GMT

Swedish independent Lundin Petroleum has been awarded a production sharing contract (PSC) for the South Sokang Block in the Natuna Sea, offshore Indonesia.

Lundin said the 4994 square kilometre block contained a previously unknown frontier Eocene/Oligocene basin, which it discovered.

During the first three year exploration phase Lundin said it planned to shoot 2400 kilometres of 2D seismic and 500 square kilometres of 3D seismic.

Lundin chief executive Ashley Heppenstall said the award of the South Sokang PSC was an important step in the company’s expansion of its exploration portfolio in South East Asia.

“The Natuna Sea is a core area for Lundin Petroleum demonstrated by the number of blocks it already holds in Malaysia and Indonesia," he said.

Lundin holds a 60% interest in the South Sokang Block and is operator with Salamander Energy holding the remaining 40% stake.

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