Statoil Spuds Johan Sverdrup Appraisal

Lundin Petroleum AB's wholly owned subsidiary Lundin Norway AS announced that Statoil Petroleum AS (Statoil) has commenced the drilling of appraisal well 16/2-14 in PL265. The well is located in license PL265 in the Norwegian North Sea.

Well 16/2-14 will appraise the crestal part of the Johan Sverdrup discovery in PL265. The main objective is to determine the thickness and quality of Jurassic age sandstone reservoir on a structural high between the Johan Sverdrup appraisal wells 16/2-8 and 16/2-10 in PL265.

The planned total depth is 6,430 feet (1,960 meters) below mean sea level. An extensive data acquisition program will be carried out to prepare for the development of the Johan Sverdrup discovery. The well will be drilled with the drilling rig Ocean Vanguard (mid-water semisub) and is expected to take approximately 75 days.

Lundin Petroleum holds 10 percent interest in PL265. Partners are Statoil Petroleum AS (operator) with 40 percent interest, Petoro (30 percent) and Det norske oljeselskap ASA (20 percent).


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