Covering an area of 5,600km², PM328 block is located offshore Malaysia, north east of PM307 block, which is also operated by Lundin Malaysia.
Lundin Malaysia will undertake the acquisition of 600km² of 3D seismic within the first 18 months while the initial PSC term is for three years.
Lundin Malaysia has the option to commit to drilling one well in the remaining 18 months, or elect to hand back its interests to Petronas Carigali without penalty.
The remaining interest in the block will be held by Petronas Carigali 40% and E&P Malaysia Venture 10% .
Swedish independent oil and gas exploration and production company, Lundin Petroleum has assets primarily located in Europe and South East Asia.
