Petronas has approved the Bertam oil field development plan for Lundin Malaysia BV, the first Lundin-operated development project in Malaysia.
The development plan, which Lundin Malaysia submitted in July, looks toward drilling in 2014 and a production start in 2015. Proved and probable reserves total 17 million bbl of oil, and peak production is pegged at 15,000 b/d.
Lundin Malaysia will develop Bertam using a 20-slot wellhead platform in 76 m of water on the 6,126 sq km PM 307 block adjacent to a spread-moored floating production, storage, and offloading vessel. The subsurface development concept consists of 14 horizontal production wells completed with electric submersible pumps.
Gross capital investment associated with the development is $400 million excluding costs related to the FPSO. Working interests are Lundin Malaysia 75% and Petronas Carigali 25%.
