Lundin outlines exploration, appraisal, development plans offshore Norway

Lundin Petroleum has allocated $285 million for exploration offshore Norway this year.

Offshore staff

STOCKHOLM, Sweden – Lundin Petroleum has allocated $285 million for exploration offshore Norway this year.

The company will participate in seven wells targeting net unrisked prospective resources of 390 MMboe. Rigs have been secured in all cases.

Three of the wells will be in the North Sea, comprising one each on the Kopervik structure on license PL625, Luno North in PL359, and Vollgrav on PL631.

Lundin will operate two wells in the Norwegian Sea targeting the Storm prospect in PL555 and Lindarormen in PL584.

In the Barents Sea, the company will drill one operated well on the Alta structure in PL609 and will act as partner in the Langlitiden well in PL659.

As for Norwegian appraisal drilling, the company has budgeted expenditure this year of $280 million. This will go mainly toward four wells in the Utsira High area, comprising two on theJohan Sverdrup field, one on the Edvard Grieg field, and one on the Luno II discovery.

It also plans to drill again on the recentGohta discovery in Barents Sea license PL492. Again, rigs have been secured for all five wells.

As for development activity, the company expects theBrynhild field to come onstream during 2Q 2014. All subsea installations are complete, the first of four development wells has been drilled, and modifications/life extension work have been completed on the host Haewene Brim FPSO, which is back on station at the Shell-operated Pierce field in the UK North Sea.

Development drilling has been slower than predicted due largely to sustained bad weather in the area. This has also increased the project’s costs.

Lundin expects the Mariner-operated Boyla field to start up during 1Q 2015, a few months behind schedule. This is due to the late arrival of the semisubmersibleTransocean Winner, which is responsible for the development wells.

01/08/2014

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