Lundin discovers oil in the Filicudi prospect, southern Barents Sea

2/13/2017

STOCKHOLM – Lundin Petroleum announced that is has made an oil and gas discovery in the main well 7219/12-1 and is presently drilling a sidetrack 7219/12-1A on the Filicudi prospect. The wells are located in PL533, approximately 40 km southwest of Johan Castberg and 30 km northwest of the Alta Gohta discoveries on the Loppa high in the southern Barents Sea. The main objective of the well was to prove oil in Jurassic and Triassic sandstone reservoirs.

The well encountered 129 m of gross hydrocarbon column, with high-quality sandstone reservoir characteristics, with 63 m of oil and 66 m of gas in the Jurassic and Triassic targets. Extensive data acquisition and sampling has been carried out including coring, logging and oil and gas sampled from the wireline tools. The sidetrack well has reached TD and has confirmed the reservoir and hydrocarbon column. The gross resource estimate for the Filicudi discovery is between 35 and 100 MMboe. Well results indicate significant upside potential that will require further appraisal drilling.

Filicudi is on trend with the Johan Castberg discovery, with resources of approximately 500 MMboe, in similar reservoir intervals. Multiple additional prospects have been identified on the Filicudi trend within PL533 with total gross unrisked prospective resource potential for the trend of up to 700 MMboe. The partnership is considering the drilling of up to two additional prospects in 2017. There are two independent high graded prospects within PL533, Hufsa containing gross unrisked prospective resources of 285 MMboe and Hurri with gross unrisked prospective resources of 218 MMboe. The success at Filicudi has reduced the risk and both prospects carry a 25% chance of success.

The semisubmersible drilling rig Leiv Eiriksson, will after completion of the well on the Filicudi prospect in PL533, move to the Gohta discovery in PL492 to drill a second delineation well on this discovery.

Lundin Norway is the operator of both PL533 and PL492 and holds a 35% and 40% working interest in these respective licenses.

 

 

 

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