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BRIEF-Lundin Petroleum, Aker BP, DEA make oil discovery in Norway's Arctic
February 13, 2017 / 7:22 AM / 5 months ago

BRIEF-Lundin Petroleum, Aker BP, DEA make oil discovery in Norway's Arctic

2 Min Read

Feb 13 (Reuters) - Lundin Petroleum Ab

* Oil discovery in the Filicudi prospect in the southern barents sea

* Wells are located in pl533 approximately 40 km southwest of johan castberg and 30 km northwest of alta and gohta discoveries on loppa high in southern barents sea

* Lundin and Aker BP each hold 35 pct stakes in PL 533, DEA holds 30 pct

* Well encountered a gross 129 metres hydrocarbon column of high quality sandstone reservoir characteristics, with 63 metres of oil and 66 metres gas in jurassic and triassic targets

* Gross resource estimate for filicudi discovery is between 35 and 100 million barrels of oil equivalents (mmboe)

* Well results indicate significant upside potential that require further appraisal drilling

* Filicudi is on trend with johan castberg discovery, with resources of approximately 500 mmboe, in similar reservoir intervals

* Multiple additional prospects have been identified on filicudi trend within pl533 with total gross unrisked prospective resource potential for trend of up to 700 mmboe

* Partnership is considering drilling of up to two additional prospects in 2017

* There are two independent high graded prospects within pl533, hufsa containing gross unrisked prospective resources of 285 mmboe and hurri with gross unrisked prospective resources of 218 mmboe

* Success at filicudi has reduced risk and both prospects carry a 25 percent chance of success. Semisubmersible drilling rig leiv eiriksson will after completion of well on filicudi prospect in pl533 move to gohta discovery in pl492 to drill a second delineation well on this discovery

* Lundin norway is operator of both pl533 and pl492 and holds a 35 percent and 40 percent working interest in these respective licences Source text for Eikon: Further company coverage: (Reporting By Terje Solsvik)

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