3 May 2010
LUNDIN PETROLEUM COMMENCES GAS PRODUCTION IN THE LEMATANG BLOCK, ONSHORE SOUTH SUMATRA, INDONESIA
Lundin Petroleum AB ("Lundin Petroleum") is pleased to announce that the Singa gas field development in the Lematang Block located in South Sumatra in Indonesia has commenced flowing gas.
Production has commenced from one well and will increase as the commissioning of facilities is completed. The Singa development is forecast to reach a full production rate of 50 MMscfpd, gross (2,100 boepd net Lundin Petroleum) in the second half of 2010.
Lundin Petroleum through its wholly owned subsidiary Lundin Lematang B.V. owns a 25.882 percent interest in the Lematang block and Singa field development. PT Medco E&P Lematang is the operator.
Lundin Petroleum is a Swedish independent oil and gas exploration and production company with a well balanced portfolio of world-class assets in Europe, Russia, South East Asia and Africa. The Company is listed at the NASDAQ OMX, Stockholm (ticker "LUPE"). Lundin Petroleum has proven and probable reserves of 177 million barrels of oil equivalent (MMboe).
For further information, please contact:
C. Ashley Heppenstall,
President and CEO
Tel: +41 22 595 10 00
Head of Corporate Communications
Tel: +46 8 440 54 50