Oil find for Lundin in Barents Sea

Offshore staff

STOCKHOLM, Sweden – Lundin Norway has made a minor oil discovery in the Norwegian sector of the Barents Sea.

The semisubmersible Transocean Arctic drilled well 7120/6-3 S on production license 490 in 330 m (1,082 ft) of water, 10 km (6.2 mi) northwest of the producing Snøhvit field.

According to the Norwegian Petroleum Directorate, oil was encountered over an 8-9 m (26-29 ft) column in thin sandstone strata above a 25-m (82-ft) sandstone sequence in the Kolmule formation. Early analysis suggests the find is not economic, although studies will continue to clarify the resource potential.

After P&A’ing the well, Transocean Arctic will head south to PL 475 in the Norwegian Sea to drill another wildcat for Wintershall Norge.

11/26/2012

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