Lundin Expands Presence in Barents Sea

Lundin was awarded a new exploration license, PL 609, in the Barents Sea, which the company will operate with a 40% interest. The partners include RWE Dea Norge AS and Idemitsu Petroleum Norge AS, each with a 30% interest.

PL609 covers an area of 291,584 acres (1,180 square kilometers) and is located immediately east of license PL532 where Statoil recently made an oil discovery on the Skrugard prospect. Furthermore, Lundin plans to drill a well on the Skalle prospect, located in PL 438, in the second quarter 2011 using the Transocean Leader semisub.  

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