Lundin Confirms Avaldsnes Extension
|Lundin Petroleum AB
|Monday, June 27, 2011
Lundin Petroleum confirms the 16/3-4 appraisal well proves the Avaldsnes field extends to the southeast of the 16/2-6 discovery well in the Norwegian sector of the North Sea. The operator successfully tested the well and performed a comprehensive logging and coring program.
Lundin discovered Avaldsnes through the 16/2-6 well in 2010; and the recently drilled appraisal well proved an oil column of 44 feet (13.5 meters) in excellent quality sandstone of Jurassic age. A high net-to-gross resulted in net pay at the appraisal location in excess of that at the discovery well. The gathered data confirms excellent reservoir properties, with average porosity of about 30% and multi-Darcy permeability. The well flowed at a rate of 5,500 boepd through a restricted choke size of 60/64 inch.
Lundin will now sidetrack the well to confirm the lateral continuity of the reservoir towards the west. The well will then be plugged and abandoned after it reaches a total depth of 6,627 feet (2,020 meters). Drilling of the second appraisal well will take place shortly using the Bredford Dolphin seimsub. Avaldsnes is located on Block 16/2 in 377 feet (115 meters) of water. Lundin Petroleum operates the discovery with a 40% interest; Statoil with 40%; and Maersk with the remaining interest.
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