Lundin Strikes Oil in Barents Sea

Sweden's Lundin Petroleum reported Tuesday that it has found a significant amount of oil and gas with its Alta well in Norwegian production license 609 in the Barents Sea.

Exploration well 7220/11-1, located on the Alta prospect in the Barents Sea some 13 miles northeast of the Gohta discovery well, was designed to prove the presence of hydrocarbons in reservoir rocks of the Permo-Carboniferous and Triassic age.

The well found a gross hydrocarbon column of 187 feet that contained 36 feet of gas and 151 feet of oil in carbonate rocks of good reservoir quality.

Two production tests (DSTs) were performed in the oil zone, producing at a maximum rate of 3,260 barrels of oil per day and 1.7 million cubic feet of gas per day through a 36/64-inch choke constrained by rig facilities.

Lundin said that the preliminary evaluation of the gross recoverable oil and gas resource range in the Alta accumulation is estimated at 125 to 400 million barrels of oil equivalent, with the oil resource range is estimated at 85 to 310 million barrels of oil.

Lundin Norway holds 40-percent interest in PL609. Partners are RWE Dea Norge AS and Idemitsu Petroleum Norge AS with 30 percent each.



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