Lundin to drill Petrovskaya

Lundin Petroleum will spud an exploration well this summer on the Petrovskaya prospect in the Russian sector of the Caspian Sea.

Offshore staff

STOCHOLM --Lundin Petroleum will spud an exploration well this summer on the Petrovskaya prospect in the Russian sector of the Caspian Sea. The well will be drilled from an island location close to the Volga shipping channel.

Petrovskaya is a four-way dip closure structure up-dip of last year's Morskaya discovery in the Lagansky block. Lundin estimates Petrovskaya's gross potential resource at 400 MMboe.

The company plans to resume exploration on Morskaya in 2010/11. Recently, it agreed an extension to the Lagansky block license until 2014 with Russian licensing agency Rosnedra.

In the Norwegian North Sea, Lundin expects the Volund subsea tie-back to the Alvheim FPSO to be on stream late this year. The semisubmersibleDeep Sea Bergen continues development drilling, and the subsea facilities are largely complete.

In March Lundin acquired a 40% interest, subject to government approval, in Talisman's production license PL 301, containing the undeveloped Krabbe oil discovery. Lundin has been working on a development plan for the nearby Nemo oil field (PL 148) and may look to tie in Krabbe.

Improved gas compressor uptime has lifted output from Lundin's 100% owned Heather field in the UK northern North Sea, which has been averaging 1,400 boe/d of late. Following re-development studies based on new 3D seismic, recoverable net proven and probable reserves at Heather have increased by 13.5 MMbbl.

05/12/2009

More in Drilling & Completion