Lundin Spuds Exploration Well on Ogna Prospect

Sweden's Lundin Petroleum announced Monday that it has started drilling exploration well 8/5-1 on production license 453S in the southern North Sea. The firm said that the well is targeting the Ogna prospect, which is located some 40 miles from the Ula Field in the North Sea, offshore Norway.

Lundin said that the main objective of the well is to prove the presence of hydrocarbons in Upper to Middle Jurassic reservoirs. The firm estimates the Ogna prospect contains un-risked, gross, prospective resources of 156 million barrels of oil equivalent.

The planned total depth is 8,020 feet below mean sea level and the well will be drilled using the Mærsk Guardian (350' ILC) rig. Drilling is expected to take approximately 50 days.

Lundin Petroleum, through its wholly owned subsidiary Lundin Norway, is the operator and has a 35 percent working interest in PL453. Partners are Det norske oljeselskap with 25 percent, Noreco with 25 percent and VNG Norge with 15 percent interest.


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