Lundin hits target on Scolty

Offshore staff

STOCKHOLM, Sweden --Lundin Oil has discovered light oil in a Paleocene structure in the UK central North Sea, called Scolty.

The jackupGSF Galaxy II drilled well 21/8-3 to evaluate two reservoir targets, the other being a Jurassic prospect named Banchory, but this section was dry.

Scolty is a four-way dip closure associated with a seismic amplitude anomaly, with recoverable reserves estimated at around 10 MMbbl. However, Lundin has identified other structures at the same level with similar anomalies, which it says could hold reserves of around 30 MMbbl.

The company is looking to drill more wells next year to prove an extension of the play within the block, adding that all the potential resources could be easily developed via nearby infrastructure. It has also retained theGSF Galaxy II for a well in the Outer Moray Firth area (12/17b-A), its third in a back-to-back program in the UK sector.

11/15/2007