Lundin Petroleum spuds appraisal well on North Sea Luno II discovery

Lundin Petroleum spuds appraisal well on North Sea Luno II discovery

STOCKHOLM, Sweden -- Lundin Petroleum AB, through its wholly-owned subsidiary Lundin Norway AS, has commenced the drilling of appraisal well 16/5-5 in PL410.

The well will target the Luno II South structure, located 9 km southeast of the Luno II discovery well 16/4-6S in PL359. The Luno II discovery is located approximately 15 km south of the Edvard Grieg field.

The main objective of well 16/5-5 is to prove the extension of the Luno II discovery into PL410. The reservoir is expected to be of Jurassic/Triassic age. Lundin Petroleum estimates the Luno II discovery to contain gross contingent resources of 25 to 120 MMboe.  The northern part of the Luno II South structure is located in PL359.

The planned total depth is 2,375 m below mean sea level and the well will be drilled using the semi-submersible drilling rig Bredford Dolphin. Drilling is expected to take approximately 40 days.

Lundin Norway is the operator and has a 70 percent working interest in PL410. Partner is Statoil Petroleum AS with 30 percent working interest.