Hedblom was at 14-under 196, with Irelands Peter Lawrie at 198 after a 65. Defending champion Darren Clarke (67) is another shot back, with Jamie Donaldson (66), Kenneth Ferrie (67), Sam Little (63) and Terry Pilkadaris (66) all trailing at 10 under.
The start I got off to calmed me down a little bit, and after that I started to feel really good, Hedblom said. If I can keep playing like this, Ill be very happy.
Clarke, bidding to become the first player to defend the title since 1978, shared the lead with Heblom at halfway stage.