Lundin Petroleum spuds Ogna prospect in UK North Sea

1/14/2013

Lundin Petroleum spuds Ogna prospect in UK North Sea

STOCKHOLM -- Lundin Petroleum has announced that drilling of exploration well 8/5-1 in PL453S has commenced. The well will target the Ogna prospect, which is located some 65 km from the Ula Field in the North Sea, offshore Norway.

The main objective of well 8/5-1 is to prove the presence of hydrocarbons in Upper to Middle Jurassic reservoirs. Lundin estimates the Ogna prospect to contain unrisked, gross, prospective resources of 156 MMboe. The planned total depth is 2,444 m below mean sea level and the well will be drilled using the jack-up rig Maersk Guardian. Drilling is expected to take approximately 50 days.

Lundin Petroleum, through its wholly owned subsidiary Lundin Norway, is the operator and has a 35% working interest in PL453. Partners are Det Norske Oljeselskap with 25%, Noreco with 25% and VNG Norge with 15% interest.

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