Lundin Starts Drilling at PL 453S in Norwegian North Sea

Lundin Petroleum has reported that drilling of exploration well 8/5-1 in PL 453S has started. The well will target the Ogna prospect, which is located some 65 km from the Ula Field in the North Sea, offshore Norway.

The well will be drilled with the Mærsk Guardian mobile facility

The main objective of well 8/5-1 is to prove the presence of hydrocarbons in Upper to Middle Jurassic reservoirs. Lundin Petroleum estimates the Ogna prospect to contain unrisked, gross, prospective resources of 156 million barrels of oil equivalent (MMboe).

The planned total depth is 2,444 metres below mean sea level and the well will be drilled using the jack-up rig Mærsk Guardian. Drilling is expected to take approximately 50 days.

Lundin Petroleum, through its wholly owned subsidiary Lundin Norway, is the operator and has a 35 percent working interest in PL453. Partners are Det norske oljeselskap with 25 percent, Noreco with 25 percent and VNG Norge with 15 percent interest.

[mappress]
January 14, 2013