Friday, July 08, 2011
Lundin Petroleum AB
Lundin, operator of production license 438, has completed well 7120/2-3S on the Skalle prospect as a gas discovery. A comprehensive logging and coring program has been acquired.
The well is situated approximately 25 kilometers north of the Snohvit Field in the south western part of the Barents Sea. The primary target for the well was to prove hydrocarbons in reservoir rocks from both the Cretaceous and the Jurassic age. Gas was proven in three separate zones.
The initial gross contingent resource range for the Skalle discovery is estimated at between 88 to 280 billion cubic feet (bcf) (15 to 50 million barrels of oil equivalent (MMboe)). There is a potential for a deeper oil leg in the lower Cretaceous reservoir of Skalle and an upside potential in Skalle substructures.
The results of the well will be further analyzed to determine the appraisal program for the discovery.
Ashley Heppenstall, President and CEO of Lundin Petroleum commented, "The Skalle gas discovery is close to existing infrastructure with upside potential both in nearby substructures and other prospects on the license. We remain confident regarding the oil prospectivity of Lundin Petroleum's Barents Sea acreage."
The well 7120/2-3S is the first exploration well in PL438 and was drilled to a vertical depth of approximately 2,600 meters below sea level.
Well 7120/2-3S was drilled using the rig Transocean Leader, which now will move to PL265 in the Greater Luno Area in the Norwegian North Sea to drill the Aldous Major South exploration well 16/2-8. Statoil ASA is the operator of PL265 and Lundin Petroleum has a 10 percent interest.
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