Lundin Spuds Zulu Prospect

Sweden's Lundin Petroleum announced Tuesday that drilling of the exploration well on its Zulu prospect in the North Sea has begun.

The well – designated 26/10-1 and located on Norwegian production license 674BS – will investigate the hydrocarbon potential of the Zulu prospect, which is located some 60 miles west of Stavanger and approximately 18 miles northeast of the Johan Sverdrup discovery.

The main objective of the well is to test the reservoir properties and hydrocarbon potential of Miocene-aged sandstone of the Utsira Formation in the Patch Bank Ridge. Lundin estimates that the Zulu prospect has the potential to contain un-risked, gross prospective resources of 153 million barrels of oil.

The planned total depth of the well is approximately 3,350 feet below mean sea level and the well is being drilled by the Island Innovator (mid-water semisub) rig. The drill is expected to take approximately 25 days.

Lundin is the operator of PL674BS and holds a 35-percent working interest in the license. Petrolia Norway and E.ON E&P Norge hold 35 percent and 30 percent respectively.

Lundin also announced Tuesday that its senior vice president for development, Chris Bruijnzeels, will step down at the end of January following 12 years with the company. Bruinjnzeels is to become CEO at ShaMaran Petroleum Corporation.



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