Lundin Petroleum commences Selada exploration well,

Stockholm, 2015-11-09 08:46 CET (GLOBE NEWSWIRE) --  

Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that its wholly owned subsidiary Lundin Malaysia BV (Lundin Malaysia) has commenced drilling of the Selada-1 exploration well in Block PM308A, offshore Malaysia.

The well will target hydrocarbons in Miocene aged sands and is located 14 km to the south of the Bertam field operated by Lundin Malaysia.

The Selada-1 exploration well will be drilled with the West Prospero jack-up rig to a total depth of approximately 1,700 metres below mean sea level.  The drilling of the well is expected to take approximately 30 days.

Lundin Malaysia is the operator of and holds a 75 percent working interest in PM308A with PETRONAS Carigali Sdn Bhd holding a 25 percent working interest. Lundin Malaysia operates seven blocks in Malaysia, namely PM307, PM319, PM308A, PM308B, PM328, SB303 and SB307/308.  

Lundin Petroleum is a Swedish independent oil and gas exploration and production company with a well balanced portfolio of world-class assets primarily located in Europe and South East Asia. The Company is listed on NASDAQ Stockholm (ticker "LUPE"). Lundin Petroleum has proven and probable reserves of 187.5 million barrels of oil equivalents (MMboe) as at 31 December 2014 and 515 MMboe in respect of the Johan Sverdrup field as at 11 August 2015.

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