Lundin Petroleum spuds exploration well at Børselv prospect in the Barents Sea

8/31/2017

STOCKHOLM -- Lundin Petroleum AB has announced that its wholly owned subsidiary Lundin Norway AS has commenced drilling of exploration well 7220/6-3 on the Børselv prospect in PL609 on the Loppa High in the southern Barents Sea.

The well is located on-trend north of the Alta and Neiden oil discoveries, approximately 18 km northwest of the Neiden discovery well.

The main objective of the well is to test the reservoir properties and hydrocarbon potential of Permian-Carboniferous carbonate reservoirs. The Børselv prospect is estimated to contain gross unrisked prospective resources of 244 MMboe.

The well will be drilled with the semisubmersible drilling rig Leiv Eiriksson and is expected to take approximately 35 days. Planned total depth for the well is approximately 1,300 m.

Lundin Norway is the operator of PL609 with a 40% working interest. The partners are DEA Norge AS and Idemitsu Petroleum Norge AS with 30% working interest each.

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