Lundin Spuds Well in PL544 (Norway)

Lundin Petroleum AB announce that drilling of exploration well 16/4-7 in PL544 has commenced. The well will target the Biotitt prospect, which is located some 35 km south of the Edvard Grieg Field and 46 km southwest of the Johan Sverdrup Field.

The main objective of well 16/4-7 is to prove the presence of hydrocarbons in Jurassic sandstone reservoirs. Lundin Petroleum estimates the Biotitt prospect to have the potential to contain unrisked, gross, prospective resources of 124 million barrels of oil equivalent (MMboe).

The planned total depth is 2,760 metres below mean sea level and the well will be drilled using the drilling rig Bredford Dolphin. Drilling is expected to take approximately 35 days.

Lundin Petroleum, through its wholly owned subsidiary Lundin Norway, is the operator and has a 40 percent working interest in PL544. Partners are Bayerngas Norge AS with 30 and Explora Petroleum AS with a 30 percent working interest.