Lundin Petroleum’s Indonesian assets include non-operated production from the Singa gas field and four exploration licences located in the Natuna Sea, Java and West Papua.

Lematang Production
Lundin Petroleum has 25.88% working interest in the Lematang Production Sharing Contract located in Southern Sumatra. The contract is formed by:
a) the Harimau sub-block (182 km2) which contains the producing Harimau oil & gas field;
b) the Lematang sub-block (227 km2) that includes the Singa gas discovery.

The Singa field (WI 25.88%) was discovered in May 1997. First gas was produced from the Singa field in May 2010. Plateau production will reach an approximate rate of 50 MMscfd gross during the second half of 2010. A Gas Sales Agreement in relation to the sale of gas from the Singa field has been signed with the state electricity company PT PLNT (Persoro) to supply gas for 10 years starting in 2010.

Sareba Exploration
The Sareba PSC was signed in 1998. The block is located on and offshore in the eastern part of the Bintuni Bay in the foot hills of the Lengguru fold belt. This un-explored area benefits from favorable “Frontier Contract Terms”. The first exploration phase ended on February 2003 was a seismic option and the second exploration phase has been entered into. The re-interpretation of old gravity and magnetic data suggested the presence of a large structure in the Sareba block. The interpretation of 240 km of river seismic acquired in 1999 confirmed that the Nusa lead is a thrusted basement cored structure with a horizontal closure larger than 100 km2.

The acquisition of 118 km of transition seismic is necessary to upgrade the Nusa lead into a drillable prospect. Progress in the block continues to be hampered by permitting difficulties.

Rangkas Block
In May 2008 Lundin Petroleum signed a new PSC, the Rangkas Block, located in the West Java Basin, onshore West Java.

The Rangkas Block covers an area of approximately 4,000 km2. Previous drilling in the block and surface oil seeps have confirmed an active petroleum system. Several prospects and leads have been identified in the block from earlier 2D seismic. A 474 km 2D seismic acquisition programme will be completed in 2010 planned.

Baronang and Cakalang Blocks
In November 2008 Lundin Petroleum signed two new PSCs for the Baronang and Cakalang Blocks which are located in the Natuna Sea, offshore Indonesia.

The Baronang Block covers an area of approximately 5, 157 km2 and the Cakalang Block 4,520 km2. Previous drilling activities on the blocks have confirmed the presence of active petroleum systems in or adjacent to both blocks. Several prospects and leads have been identified in the blocks from earlier 2D seismic campaigns.

A 975 km2 3D seismic acquisition programme over the two licences was completed in April 2010.