Lundin awarded block 10A in Kenya

Lundin Petroleum AB, Swedish independent oil and gas exploration and production company, has signed a production sharing contract (PSC) for Block 10A in the Anza Basin of northwest Kenya.

On October 4th, 2007, in Nairobi, Lundin Kenya B.V., a wholly owned subsidiary of Lundin Petroleum, signed a PSC with the Honourable Minister of Energy of the Republic of Kenya. Block 10A covers an area of 14,748 square kilometers and is located in the onshore Anza Basin, an extension of the prolific Muglad Basin of Sudan.

Lundin Kenya B.V. will be the sole operator under the Block 10A PSC, with the Kenyan Government having an option to participate with up to a 13 percent interest following a commercial discovery. Past exploration efforts dating back to the late 1980’s have proven the existence of excellent quality, oil-prone source rocks, oil-saturated sandstone reservoirs, and a multitude of structural traps which remain undrilled.