Lundin outlines 2015 offshore Norway exploration, development programs

Offshore staff

STOCKHOLM, Sweden – Petroleum Safety Authority Norway has approved Lundin Norway’s request to drill an exploration well on the Gemini prospect in the central Norwegian North Sea.

The semisubmersible Island Innovator is expected to spud well 16/1-24 in 135 m (443 ft) of water on production license PL 338 in block 16/1 later this month.

Drilling will last at least 46 days or longer if a discovery results. In that event, the company plans to drill a side track and perform a production test.

This year, parent company Lundin Petroleum has budgeted $275 million for exploration offshore Norway. Seven wells will be drilled targeting net unrisked prospective resources of 480 MMboe in the company’s core exploration areas, the Utsira high in North Sea and the Barents Sea.

The Utsira High campaign comprises three wells aside from Gemini on the Zulu prospect in PL674; Luno II North in PL359; and Fosen in PL544. In the Møre basin in the North Sea, the company will additionally drill the Morkel prospect.

Lundin plans to drill one operated well in the Barents Sea on the Ornen structure in PL708 and on Neiden in PL609.

The company has also budgeted $150 million for three appraisal wells in Norway. Two will be on last year’s Alta discovery in PL609 in the Barents Sea, with the third on the Edvard Grieg field in PL338 in the North Sea, a follow-up to a successful appraisal well on the field in 2014. Rigs have been secured for all three appraisal wells.

As for development, Lundin expects new operator Det norske oljeselskap to bring onstream the Bøyla field in the North Sea during the current quarter.

Work on the Lundin-operated Edvard Grieg field development is progressing according to plan and budget. This year the company has committed a further $490 million for continuous drilling of the development wells, offloading, transportation and installation of the platform topsides, and the completion of the subsea oil and gas pipelines.

Edvard Grieg is expected to come onstream during 4Q, with Lundin’s share of production reaching 50,000 boe/d at peak in mid-2016.

01/07/2015

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...