Lundin Petroleum subsidiary Lundin Malaysia won the approval of its Bertam field development plan from Malaysia's Petronas. The Bertam field marked Lundin’s first development project in the country.
Bertam, located about 100 mi offshore Peninsular Malaysia in PM 307, will be developed using a 20-slot wellhead platform adjacent to a spread-moored FPSO in a water depth of 76m. The total gross capital investment associated with the Bertam field development, excluding any FPSO-related costs, is estimated at approximately US$400 million.
In January 2012, the Bertam-2 appraisal well in PM 307 proved the Bertam discovery to be potentially commercial. Later, in June of that year, Lundin proposed the development of the FPSO. By November 2012, Petronas announced that it had found a substantial amount of oil for the first time in 30 years within the Bertam field, operated by Lundin.
The Bertam field was discovered by the Bertam-1 well, which was drilled in 1995. Bertam-1 discovered oil in the K10 sandstone reservoir and flowed 34 degree API oil at a rate of 624 bo/d in a short-term production test.
Lundin Malaysia BV as operator holds a 75% working interest in Bertam, with PETRONAS Carigali holds the remaining 25% working interest.
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