Lundin spuds appraisal well 16/3-8s on Johan Sverdrup discovery

1/3/2014

Lundin spuds appraisal well 16/3-8s on Johan Sverdrup discovery

STOCKHOLM, Sweden  -- Lundin Petroleum AB, through its wholly-owned subsidiary Lundin Norway AS, has announced that the drilling of appraisal well 16/3-8S, on the Johan Sverdrup discovery in the North Sea sector of the Norwegian Continental Shelf (NCS), has commenced.

The well is located on PL501 at the crest of the Avaldsnes High in the eastern part of the discovery with the objectives to establish the depth, quality and thickness of Zechstein group carbonates of Permian age and investigate the presence and quality of Jurassic reservoir sequences approximately 3.9 km southeast of the discovery well 16/2-6.

Well 16/3-8S is expected to provide information of the Zechstein group carbonates sub-cropping the Jurassic reservoir in the Avaldsnes High area of the Johan Sverdrup discovery. The carbonates may play an important role for the development of this part of the discovery both as a potential good oil reservoir and to optimize the production planning of the Jurassic oil reservoir directly on top of it.

The planned total depth is approximately 2,025 m below mean sea level and the well will be drilled using the semi-submersible drilling rig Bredford Dolphin. The drilling operation is expected to take approximately 45 days.

Lundin Petroleum is the operator of PL501 with 40 percent interest. The partners are Statoil Petroleum AS with 40 percent interest and Maersk Oil Norway with 20 percent interest.

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