Lundin Spuds Ornen Prospect Well in Barents Sea

Lundin Petroleum AB announced Tuesday that its wholly owned subsidiary Lundin Norway AS has commenced the drilling of exploration well 7130/4-1, located on the Ornen prospect in the southern Barents Sea.

The planned total depth of the well, which will be drilled using the Transocean Artic (mid-water semisub), is approximately 8,628 feet below mean sea level. Drilling operations are expected to take approximately 60 days to complete, according to Lundin.

Lundin Norway is the operator of PL708, in which well 7130/4-1 is located, with a 40 percent working interest. Edison Norge and Lukoil Overseas North Shelf each hold a 20 percent interest, and Lime Petroleum Norway and North Energy each hold a 10 percent interest. The Ornen prospect is estimated to contain gross unrisked prospective resources of 354 million barrels of oil equivalents.



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