Lundin spuds appraisal well on Johan Sverdrup discovery

3/4/2014

Lundin spuds appraisal well 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 16/2-19 has commenced.

The well is located in PL265 in the northern part of the Johan Sverdrup discovery. The main objective of the well is to investigate the Jurassic presence, reservoir thickness, quality and distribution on the northeastern edge of the discovery 2.2 km north of appraisal well 16/2-12 and 3.2 km southeast of appraisal well 16/2-9s.

The planned total depth is approximately 1,990 m below mean sea level and the well will be drilled by the semi-submersible drilling rig Ocean Vanguard. The drilling operation is expected to take approximately 45 days.

Statoil Petroleum is the operator of PL265 with 40 percent interest. The partners are Petoro (30%), Det norske oljeselskap (20%), and Lundin Norway (10%).

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