Marathon Spuds Caterpillar Offshore Norway
Lundin Petroleum AB
|Monday, January 10, 2011
Marathon has spud exploratory well 24/9-10S on the Caterpillar prospect in Production License 340BS in the Norwegian sector of the North Sea. The prospect, located 4 miles (6 kilometers) east of the Marihone discovery, will target sandstones of the Hermod formation in the same reservoir trend as the discovery.
The Caterpillar prospect is estimated to contain gross unrisked prospective oil resources of 11 million barrels of oil, and if a discovery is made, it will potentially be developed as a satellite to the Marihone discovery, announced Lundin. The Transocean Winner semisub will drill the well, which has a planned total depth of 7,103 feet (2,165 meters). Marathon operates the license, holding a 65% interest. Partners in the license include Lundin (15%) and ConocoPhillips (20%).
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