Lundin Petroleum spuds appraisal wells on the Edva

Stockholm, 2017-03-06 08:19 CET (GLOBE NEWSWIRE) --  

Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that its wholly owned subsidiary Lundin Norway AS (Lundin Norway) has commenced appraisal drilling on the Edvard Grieg field and the Gohta discovery. The appraisal well 16/1-27 in PL338 on the Edvard Grieg field is being drilled on the southwestern flank of the field by the semi-submersible drilling rig Island Innovator. Following the 2016 year end reserves additions on Edvard Grieg in relation to a larger oil column being proven in the northwestern flank of the field, further resource potential has been identified in the southwestern flank of the field. The well is being drilled 3 km west of the Edvard Grieg platform and is targeting additional gross resources of up to 30 MMboe. The drilling operation is expected to take approximately 30 days.   The appraisal well 7120/1-5 in PL492 on the Gohta discovery is being drilled by the semi-submersible drilling rig Leiv Eiriksson. The appraisal well is being drilled approximately 4 km north of the original discovery well 7120/1-3 and is the second appraisal well drilled on the Gohta discovery. The main objective of well 7120/1-5 is to delineate the northeastern extent of the discovery and to provide a calibration point for the drilling of a horizontal well for a possible extended well test. The drilling operation is expected to take approximately 75 days. Lundin Norway is operator for both PL338 and PL492 and holds a 65 percent and 40 percent interest respectively in the two licences.

Lundin Petroleum is a Swedish independent oil and gas exploration and production company with a well balanced portfolio of worldclass assets primarily located in Europe and South East Asia. The Company is listed on NASDAQ Stockholm (ticker "LUPE"). Lundin Petroleum has proved and probable reserves of 743.5 million barrels of oil equivalents (MMboe) as at 31 December 2016.

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