Lundin Makes Oil Discovery Offshore Norway

Lundin Makes Oil Discovery Offshore Norway
Lundin Norway AS makes an oil discovery offshore Norway.

Lundin Petroleum AB revealed Monday that its wholly owned subsidiary, Lundin Norway AS, has made an oil discovery at exploration well 16/5-8s offshore Norway.

The well, which targeted the Goddo prospect in PL815, is estimated to contain preliminary gross resources of between one and 10 million barrels of oil equivalent (MMboe), according to Lundin, which added that there is “clear upside potential in the larger Goddo area and surrounding prospective basement”.

Lundin Norway is the operator of PL815 with a 60 percent working interest. Partners in the asset comprise Concedo and Petoro, which hold a 20 percent interest each.

The Goddo well was drilled by the Leiv Eiriksson semi-submersible drilling rig. Leiv Eiriksson will now be used by operator ConocoPhillips Skandinavia for a three well exploration campaign to the North of the Utsira High. Lundin Petroleum has a 20 percent working interest in two of these wells.

In June, Lundin Petroleum revealed that Lundin Norway had made two oil discoveries on the eastern edge of the Edvard Grieg field on the Utsira High. The combined gross resources of the wells were estimated to be between four and 37 MMboe.

In May, Lundin Norway completed exploration well 3/7-11 S, targeting the Vinstra and Otta prospects in PL539. Both targets were said to be dry.

Lundin Petroleum describes itself as one of Europe’s leading independent oil and gas exploration and production companies. The company, which was founded in 2001, had over 400 employees at the end of 2018.

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