IPC approves infill drilling at Bertam offshore Malaysia

Offshore staff

STOCKHOLM, Sweden – International Petroleum Corp. (IPC), the newly formed spin-off company from Lundin Petroleum, has approved drilling of two additional infill wells on the Bertam field offshore Peninsular Malaysia this fall, pending partner approval and securing rig capacity.

Costs of the wells should be recovered within roughly eight months, based on forward oil price projections, and the added production should allow IPC to offset natural decline from its assets.

So far this year, staff on the Bertam FPSO has maintained uptime of above 99%.

08/08/2017