Lundin reports latest North Sea Luno well is sub-commercial

Offshore staff

STOCKHOLM, Sweden – Lundin Norway has suffered a disappointment with its appraisal well on the Luno II oil discovery in the Norwegian North Sea.

The semisubmersible Bredford Dolphin drilled well 16/5-5 in 100 m (328 ft) of water on license PL410, pursuing a potential southern extension of the Luno II discovery within a separate segment.

The well encountered the oil-bearing Triassic reservoir higher than prognosis, but reservoir quality was poor, suggesting that the segment is non-commercial.

Analysis indicates that the tested segment is in a separate sub-basin, which probably accounts for the variations in reservoir characteristics.

Lundin will drill its next appraisal well on the central part of Luno II next spring, which appears to contain most of the structure’s resources.

The rig next transfers to PL501 for another delineation well on the Johan Sverdrup field.

12/20/2013

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