Lundin Discovers Oil at Well 16/1-25 S in Central North Sea

Lundin Petroleum AB announced Tuesday that its wholly owned subsidiary, Lundin Norway AS, has discovered oil at exploration well 16/1-25 S, located in PL338C in the central North Sea sector of the Norwegian Continental Shelf.

The well encountered a gross oil column of 98 feet and data has indicated that the petroleum system is in communication with the Edvard Grieg South discovery, which was made by Lundin Norway in 2009. A production test at the well achieved an output rate of 265 barrels of oil per day through a 36/64” choke. Further studies will be required to incorporate all the findings and establish future planning, such as the potential drilling of an extended reach well from the Edvard Grieg platform with an associated long-term production test.

Exploration well 16/1-25 S is the second well drilled in PL 338C, which was carved out from PL338 in late 2014. Well 16/1-25 S was drilled to a total depth of 6,876 feet below mean sea level in a water depth of 347 feet. The well was drilled using the Bredford Dolphin (mid-water semisub) and will now be permanently plugged and abandoned.

Lundin Norway is the operator of PL338C with 50 percent working interest. The partners are Lime Petroleum Norway with a 30 percent working interest and OMV (Norge) AS with 20 percent working interest.



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