Lundin finds more oil in Luno area of North Sea

Lundin Norway has a new oil discovery on the Utsira High region of the Norwegian central North Sea.

Offshore staff

STOCKHOLM, Sweden – Lundin Norway has a new oil discovery on the Utsira High region of the Norwegian central North Sea.

The semisubmersibleBredford Dolphin drilled well 16/4-6S on the Luno II prospect on license PL359 in a water depth of 101 m (331 ft). The location is on the southwest flank of the Utsira High, 15 km (9.3 mi) south of the Lundin-operated Edvard Grieg field development.

The well has drilled through a section comprising around 200 m (656 ft) of sand with a high net-to-gross content, proving a light oil column of more than 40 m (131 ft) gross. Oil-water contact was encountered roughly 1,950 m (6,397 ft) below mean sea level.

Pressure data indicate that the petroleum system is different to that in the Edvard Grieg andJohan Sverdrup fields. A production test will follow, along with coring, logging, and fluid sampling.

Ashley Heppenstall, president and CEO of parent company Lundin Petroleum, said: “The reservoir quality, whilst not the same as Johan Sverdrup, appears good and will now be tested. We expect to provide a range of recoverable resources from the discovery after testing is completed in two to three weeks time.”

After completing the test program the rig will switch to PL501 to continue appraisal drilling for Lundin on Johan Sverdrup.

4/8/2013

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