Lundin Well Indicates Edvard Grieg Recoverable Oil Increase

The Norwegian Petroleum Directorate announced Tuesday that preliminary results from appraisal well 16/1-23 S, operated by Lundin Norway, indicate an increase of between 35 million and 282 million cubic feet of recoverable oil in the south-eastern section of the Edvard Grieg field.

Well 16/1-23 S, which aimed to investigate reservoir rocks and properties and optimize drainage strategy for the best possible location of production wells in the area, encountered a total oil column of 219 feet in sandstone with moderate to good reservoir quality. Prior to well 16/1-23 S being drilled, Lundin’s resource estimate for the field was 1.05 billion cubic feet of recoverable oil. Further work is expected to reduce the uncertainty of the increase estimate.

The Edvard Grieg field is operated by Lundin Norway, which holds a 50 percent interest. OMV Norge holds a 20 percent interest, with Statoil and Wintershall Norge each holding a 15 percent interest in the field. Well 16/1-23 S is the seventh exploration well on Edvard Grieg.



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