European Coalition for Oil in Sudan (ECOS)
Oil. Fuel for a better Sudan?
Lundin Petroleum field operations to resume in Block 5B, onshore Sudan
Lundin Petroleum field operations to resume in Block 5B, onshore Sudan
Lundin Petroleum field operations to resume in Block 5B, onshore Sudan
by: OilOnline
Wednesday, December 07, 2005
Lundin Petroleum AB has announced that a work program and budget for
field operations on Block 5B, Sudan, in 2006 has been approved.
The program includes the acquisition of 1,100 line kilometers of 2D
seismic data in the first half of 2006, building of necessary
infrastructure to support drilling operations, and drilling of up to
three exploration wells commencing late 2006.
A Community Development Program will also be carried out in the
concession area focusing on providing clean water, education, basic
health care and humanitarian aid to the local population.
Rights to the concession of Block 5B were awarded under an Exploration
& Production Sharing Agreement signed on 2 May 2001, to a consortium
composed of Petronas Carigali White Nile (5B) Ltd (39%), Lundin
Petroleum AB (Lundin Block 5B BV) (24,5%), ONGC Videsh Ltd (23,5%) and
Sudapet Ltd (13%).
The Block is operated by WNPOC, a joint operating company between
PETRONAS and Sudapet on behalf of the consortium members.
Block 5B is located in the Muglad Basin and covers an area of 20,119
square kilometers. Muglad is the ma in oil-producing basin in Sudan
and has seen the development of several large oilfields over the past
few years. So far the consortium has been active in reprocessing and
reinterpreting existing seismic data. Following the signing of the
Comprehensive Peace Agreement, WNPOC has conducted scouting trips in
to the Block in preparation for the 2006 seismic and drilling
operations.
The consortium members are committed to exploring and exploiting oil
resources in Block 5B, which is expected to be an important part of
the oil industry in Sudan, in an efficient and responsible manner.
This will contribute to the economic surge of Sudan whose development
depends largely on the rapid and efficient exploitation of its oil
resources.
Ashley Heppenstall, President and CEO Lundin Petroleum comments: "I am
very pleased that Lundin Petroleum is able to resume field operations
in Block 5B. The signing of the Comprehensive Peace Agreement and the
formation of the National Petrole um Commission has provided the
necessary framework to explore the large potential natural resources
in the area for the mutual benefit of all the people of Sudan".