Petroliam Nasional Berhad (Petronas) has granted Lundin Malaysia BV, a wholly owned subsidiary of Lundin Petroleum AB, its approval to develop the Bertam field. For Lundin Petroleum, the Bertam field is the first development project it is operating in Malaysia. The Bertam field is located in Block PM307, off the shore of peninsular Malaysia. Lundin Malaysia BV, as the operator, holds a 75 per cent stake, while the remainder is held by Petronas Carigali. The total gross capital investment associated with the Bertam field development, excluding any floating production, storage and offloading-related costs, is estimated to be approximately $400 million.
