Lundin Petroleum has acquired a 34% interest in Block E, offshore Cambodia from Medco International Petroleum, Kuwait Energy Company and JHL Petroleum.
Block E covers 5,559 square kilometers and is located offshore Cambodia, in the Pattani Basin. The block contains several plays in addition to rift basin, fault traps and several structures have been identified. A 1,200km 2D seismic acquisition has recently been completed and is currently being processed and interpreted to define further exploration activities.
Future plans include 250 square kilometers 3D seismic acquisition and one exploration well. In addition, Lundin Petroleum and Medco have agreed to work together in respect of certain future oil and gas opportunities in Cambodia.
Ashley Heppenstall, president and CEO of Lundin Petroleum, said: We are very pleased to have expanded our exploration portfolio in southeast Asia with the acquisition of an interest in Block E in Cambodia. We will continue to proactively seek further opportunities in the region.