Lundin to re-enter two exploratory wells offshore Norway

Lundin Petroleum plans to re-enter and deepen the Alta-3 appraisal well in the southern Norwegian Barents Sea later this year and conduct well tests.

Offshore staff

STOCKHOLM, SwedenLundin Petroleum plans to re-enter and deepen the Alta-3 appraisal well in the southern Norwegian Barents Sea later this year and conduct well tests.

The company has entered into a contract with Ocean Rig for the charter of the semisubmersibleLeiv Eiriksson for a forthcoming appraisal and exploration campaign in the southern Barents Sea. The contract encompasses three firm wells and six further well-slot options.

Lundin will drill two more exploration wells offshore Norway this year targeting net prospective resources of around 170 MMboe. One is a re-entry of the Neiden well in license PL609, while the other will be on the Filicudi prospect in PL533 just south of the Johan Castberg discovery.

Last November the company started production from theEdvard Grieg field in the central Norwegian North Sea.

Production capacity from the first three wells has exceeded expectations and reservoir pressure depletion has been more favorable than anticipated, which is said to augur well for the field’s future performance.

In accordance with the reservoir management plan, production levels will be held below the wells’ potential until sufficient water injectors become available to balance production with available injection.

The first water injection well is currently drilling and should be completed by mid-year, followed by the second water injector and a fourth production well, both set to become operational later this year when the field reaches plateau production of 100,000 boe/d.

Lundin plans to drill 14 development wells eventually onEdvard Grieg with operations continuing through 2018. Operating cost for the field is set to fall below $9/bbl this year.

The company is a partner in theAlvheim area joint venture. A newly agreed rig contract is due to start in December. The partners plan further infill development wells and a near-field exploration well in the Alvheim area.

They have also identified further infill opportunities on the Volund field and will likely drill at least two, starting in late 2016.

Offshore Peninsular Malaysia, the A15 well is currently drilling into theBertam-3 area from the Bertam wellhead platform and will be put into production shortly, lifting the total number of producing wells to 12. The jackup Western Prospero will then come off contract.

05/11/2016

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