Lundin Petroleum says that its wholly owned subsidiary Lundin Malaysia BV has received approval for the Bertam Field Development Plan from PETRONAS. The Bertam field is the first development project operated by Lundin Petroleum in Malaysia.

The Bertam field is located in Block PM307, offshore Peninsular Malaysia. Lundin Malaysia BV as operator holds a 75% working interest and PETRONAS Carigali holds the remaining 25% working interest.

The Bertam field will be developed using a 20 slot Wellhead Platform adjacent to a spread moored FPSO in a water depth of 76 metres. The subsurface development concept consists of 14 horizontal wells completed with Electric Submersible Pumps (ESP's). The total gross capital investment associated with the Bertam field development, excluding any FPSO related costs, is estimated at approximately USD 400 million.

Tags: Lundin Petroleum, PETRONAS