Sweden’s Lundin Petroleum to explore for oil in Iran, Sudan
Sweden’s Lundin Petroleum AB will be drilling an Iranian exploration well in 2003, as part of the company’s exploration and development work program for 2003. Two wells are also planned in Sudan, provided that the ongoing peace process in the country evolves sufficiently for operations to resume.
Lundin plans to drill a total of nine exploration wells with an investment of $25 million in Iran Albania, France, The Netherlands and Indonesia. Lundin Petroleum is an independent oil and gas exploration and production company with a portfolio of assets in Albania, France, Indonesia, Iran, Netherlands, Sudan, Tunisia and Venezuela. The company is listed on the New Market at Stockholmsborsen, Sweden.
Lundin Petroleum AB has a 30% non-operating interest in the Munir Exploration Block, onshore Iran. The Block is located in the prolific petroleum system of the Zagros Fold Belt in the Khuzestan province next to and on trend with a number of billion barrel oil fields. — (menareport.com)
© 2002 Mena Report (www.menareport.com)