STOCKHOLM, Sweden -- Lundin Petroleum has acquired a 34% interest in block E offshore Cambodia from Medco International Petroleum Ltd., Kuwait Energy Company KSCC, and JHL Petroleum Ltd. The transaction is subject to governmental approvals.
Block E covers 5,559 sq km (2,146 sq mi) offshore Cambodia in the Pattani basin. According to the company, the block contains several plays. A 1,200-km (746-mi) 2D seismic acquisition has recently been completed.
Future plans include 250 sq km (97 sq mi) 3D seismic acquisition and one exploration well. In addition, Lundin Petroleum and Medco have agreed to work together on future oil and gas opportunities in the region.
Partners in block E are operator Medco (41.25%), Kuwait Energy Co. (20.63%), and JHL Petroleum (4.13%).