Lundin Petroleum AB (Lundin Petroleum) announced that its wholly owned subsidiary Lundin Norway AS (Lundin Norway) has commenced the drilling of well 7120/6-3 S in PL490 on the Snurrevad-Juksa prospect in the Barents Sea. The well will be drilled using the Transocean Arctic (mid-water semisub).
The well is located 6 miles (10 kilometers) to the north west of the Snøhvit field. The main objective of the well is to prove the presence of hydrocarbons in lower Cretaceous/upper Jurassic reservoirs.
Lundin Norway AS is the operator of PL490 with 60 percent interest. Partners are Noreco Norway AS and Spring Energy Norway AS with 20 percent interest each. Subject to approval from the authorities Spring Energy Norway AS will acquire a 10 percent interest, increasing their interest to 30 percent. Lundin Norway AS will have a 50 percent working interest after the farmout.
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