Lundin Spins Bit at Avaldsnes Appraisal

Lundin Petroleum has commenced appraisal drilling on well 16/3-4 on the Avaldsnes discovery located in PL501 in the Norwegian sector of the North Sea.

Lundin plans to delineate the discovery that was made in 2010 with estimated recoverable resources between 100 to 400 MMbbl of oil in PL 501. The target is to confirm the presence of late Jurassic sand about 3 miles (5 kilometers) southeast of the Avaldsnes discovery well 16/2-6. The planned total depth is approximately 6,562 feet (2,000 meters) and the well will be drilled using the Bredford Dolphin semisub. Drilling is expected to take about 45 days.

The second appraisal well, 16/2-7, will spud following the completion of well 16/3-4 using the same rig. The water depth at the site is 377 feet (115 meters). Lundin Petroleum operates the prospect, holding a 40% interest; Statoil holds 40%; and Maersk Oil Norway AS holds 20%.  

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