Lundin strikes oil on Luno II North prospect

Lundin Petroleum AB, through its wholly owned subsidiary Lundin Norway AS, has discovered a gross 23-m oil column with its 16/4-9 S exploration well on the Luno II North prospect. The well is in a separate sub-basin northwest of the Luno II discovery in PL359 in the central North Sea sector of the Norwegian continental shelf (OGJ Online, May 6, 2013).

The well is on the southwestern flank of the Utsira High 15 km south of the Lundin Petroleum operated Edvard Grieg field and 4 km northwest of the Luno II 16/4-6 S discovery well.

The well encountered quality Jurassic-Triassic conglomeratic sandstones with pressure data indicating that the petroleum system in the Luno II North discovery is different from that seen in the Luno II discovery. The operator reported that the 16/4-9 S produced 1,000 bo/d through a 32/64-in. choke during tests. The operator followed with extensive data acquisition and sampling, including conventional coring and fluid sampling.

The 16/4-9 S appraisal well is the fourth drilled in PL359 since 2006. It was drilled to a total depth of 2,305 m in 100 m of water by the Bredford Dolphin semisubmersible rig.

The gross contingent resource range for the Luno II North discovery, representing the southern part of the prospect, is estimated at 12-26 million boe. Economic viability analysis is ongoing, however, and the operator has suggested in its most recent press release that Luno II and Luno II North may be attached to Edvard Grieg field via subsea tieback. The Luno II discovery is estimated to contain a gross contingent resource range of 27-71 million boe.

Lundin Norway AS is operator of PL359 with 50% working interest. Partners are OMV (Norge) AS 20%, Statoil Petroleum ASA 15%, and Wintershall Norge AS 15%.

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