Lundin Petroleum Drills Offshore Malaysia
Lundin Petroleum AB has commenced the fourth well in its 2012 Malaysian exploratory drilling campaign. Tembakau-1 exploration well in PM307 Block, offshore east coast Peninsula Malaysia, is a vertical well to be drilled by the jackup rig West Courageous to a depth of 1,650 metres in approximately 80 metres water depth. The drilling of the well is expected to take two to three weeks. Lundin Petroleum holds 75 percent interest in PM307 through its subsidiary Lundin Malaysia BV. Lundin Malaysia BV's partner is PETRONAS Carigali Sdn Bhd with 25 percent interest. Lundin Malaysia BV operates six blocks in Malaysia, namely PM307, PM308A, PM308B, SB303, SB307 & SB308.
$21.2 Billion Canal Proposed
Thailand is expected to begin construction soon of a $21.2 billion canal from the Indian Ocean to the Gulf of Thailand which would allow ships to bypass Malaysia and Singapore, Reuters reported. Thai Science Minister Arthit Urairath was quoted as saying the Kra Canal could start in the next three years. It quoted other officials, academics and bankers as saying the project could be approved as early as this year. Plans for a canal across the narrow strip of southern Thailand north of peninsula Malaysia have been under consideration for many decades but the idea has always been shelved on grounds of cost or risk to the environment.But Arthit said there was no longer any real objection to the project which he said would benefit the whole country.
Thai Prime Minister Denies Canal Reports
Thai Prime Minister Chuan Leekpai has denied reports the government plans to build a canal across southern Thailand, bypassing the busy Malacca Straits shipping lane, as reported in last week's Maritime Week. He said that while the idea is still being studied, the construction of a canal is not a simple issue and no decision has been made. If the study found it feasible to construct the canal, the country might build it, he said. It is estimated that the project would cost about $21.2 billion and take six years to complete. Proponents of the canal claim it would bring huge economic benefits and could threaten Singapore's position as the region's leading port.
