Swedish oil company Lundin Petroleum AB (LUPE.SK) said Tuesday
it had started drilling appraisal well 16/2-16 on the giant North
Sea discovery Johan Sverdrup.
MAIN FACTS:
-Drilling is in the northeastern part of the discovery, to
discover the depth, quality and thickness of the oil reservoir.
-The well is three kilometers away from well 16/2-13A in
production license 501 and well 16/2-10 in production license 265,
which both established excellent reservoir and deeper oil-water
contacts than other wells in the discovery.
-A limited oil column is expected, as the well is located on the
flank of the discovery.
-The planned total depth of the well is about 2,250 metres below
the sea level, and it will be drilled by the semi-submersible
drilling rig Transocean Winner.
-The operation is expected to take about 50 days.
-The Johan Sverdrup discovery, proven in 2010, is estimated to
contain at least 1.8 billion barrels of oil equivalent, according
to the Norwegian Petroleum Directorate.
-Lundin is expected to release new estimates of the size of
Johan Sverdrup in early 2013.
-Johan Sverdrup is spread between production licenses 501 and
265 on the Norwegian continental shelf.
-Statoil ASA (STO) said earlier this month that it had drilled
its ninth well in production license 265, showing very good
reservoir quality.
-Lundin Petroleum is the operator of production license 501 with
a 40% stake. Statoil subsidiary Statoil Petroleum AS has a 40%
stake and Maersk Oil Norway holds 20%.
-At 0833 GMT, Lundin shares traded 1.2% lower at SEK152.00.
-Write to Kjetil Malkenes Hovland at
kjetilmalkenes.hovland@dowjones.com
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