Lundin Petroleum's assets offshore Malaysia consist of five gas discoveries and four oil discoveries giving a total of 13.7 MMboe in net 2P reserves and 82 MMboe of net best estimate contingent resources as at end 2013. Lundin Petroleum also has approximately 35,000 square kilometres of exploration acreage offshore Malaysia.
Lundin Petroleum operates in two core areas, offshore peninsular Malaysia and offshore Sabah, east Malaysia.
The Bertam field development PDO was approved in September 2013 with first oil scheduled for Q2 2015. 13.7 MMboe of net reserves are assigned to the Bertam field.A significant gas discovery was made on the Tembakau prospect in licence PM307 which will be appraised during 2014.
Since 2011, Lundin Petroleum's exploration programme, offshore Sabah, has resulted in three gas discoveries, Tarap, Cempulut and Berangan. Lundin Petroleum is studying the possibility of a gas cluster development from these three discoveries in addition to one existing discovery called Titik-Terang.
Further exploration drilling is scheduled in both core areas during 2014.