Lundin Plugs Makouala Marine-1 Well Offshore Congo

Lundin Petroleum AB (Lundin Petroleum) announces the completion of the Makouala Marine-1 well in Block Marine XIV, offshore Congo (Brazzaville).

The Makouala Marine-1 well, in Block Marine XIV offshore Congo (Brazzaville), has encountered limited oil bearing pay in the target Sendji formation reservoirs. Operator, Soco Exploration and Production Congo said tha analysis of the wireline logs indicated that the reservoir sands at the location were not as well developed as predicted and there was insufficient overall pay thickness for commercial flow rates.

This well was the second of a two to three well campaign in the area. The well will now be plugged and abandoned and the drilling rig will be released.

Lundin Petroleum is a Swedish independent oil and gas exploration and production company with a well balanced portfolio of world-class assets primarily located in Europe and South East Asia. The Company is listed at the NASDAQ OMX, Stockholm (ticker “LUPE”) and at the Toronto Stock Exchange (TSX) (Ticker “LUP”). Lundin Petroleum has proven and probable reserves of 187 million barrels of oil equivalent (MMboe).

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Offshore Energy Today Staff , December 23, 2011; Image: Lundin Petroleum