Lundin Spuds Luno II Well

Sweden's Lundin Petroleum has spud its exploration well 16/4-6S, targeting the Luno II prospect, located south of the Edvard Grieg field in the Norwegian North Sea, the company announced Tuesday.

Lundin said the main objective of the well is to prove the presence of hydrocarbons in Jurassic reservoir sandstones. The firm estimates the Luno II prospect contains un-risked prospective resources of some 139 million barrels of oil equivalent.

The planned total depth of the well is approximately 6,890 feet below mean sea level and the well will be drilled using the Bredford Dolphin (mid-water semisub) rig.

Lundin is the operator of production license 359, where Luno II is located. It has a 40-percent interest in the license, while Statoil and Premier Oil each have a 30-percent holding.