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Lundin Petroleum spuds exploration well on the Ogna prospect in the Southern North Sea

Monday, Jan 14, 2013

Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that drilling of exploration well 8/5-1 in PL453S has commenced. The well will target the Ogna prospect, which is located some 65 km from the Ula Field in the North Sea, offshore Norway.

The main objective of well 8/5-1 is to prove the presence of hydrocarbons in Upper to Middle Jurassic reservoirs. Lundin Petroleum estimates the Ogna prospect to contain unrisked, gross, prospective resources of 156 million barrels of oil equivalent (MMboe).

The planned total depth is 2,444 metres below mean sea level and the well will be drilled using the jack-up rig Mærsk Guardian. Drilling is expected to take approximately 50 days.

Lundin Petroleum, through its wholly owned subsidiary Lundin Norway, is the operator and has a 35 percent working interest in PL453. Partners are Det norske oljeselskap with 25 percent, Noreco with 25 percent and VNG Norge with 15 percent interest.

Source: Lundin Petroleum AB

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