Lundin spuds fourth appraisal well

Lundin Petroleum reported that drilling of the appraisal well 16/2-11 on the Johan Sverdrup PL501 discovery located in the North Sea sector of the Norwegian Continental Shelf (NCS), has commenced.

The planned depth is approximately 2,175 meters below mean sea level and the well will be drilled using the semi-submersible drilling rig Bredford Dolphin.

The drilling operation is expected to take approximately 40 days.

The objective of the well is to determine the thickness and quality of an oil bearing Jurassic sequence at the appraisal well location. The well is located 2,2 km south east from the Johan Sverdrup PL265 discovery well 16/2-8.

Lundin Petroleum is the operator of PL501 with 40 percent interest. Partners are Statoil Petroleum AS with 40 percent and M?rsk Oil Norway AS with 20 percent interest.

View the original article here

Lundin completes Avaldsnes appraisal well

Lundin Petroleum has completed the appraisal well, 16/5-2S located approximately 8.5 km south of the Avaldsnes discovery well 16/2-6, and 4 km south of the appraisal well 16/2-7.

The objective of the 16/5-2S well was to delineate the southern flank of the Avaldsnes discovery.

Well 16/5-2S encountered a 15 metres Jurassic sequence of which the upper 8 metres has excellent reservoir quality.

Top reservoir was found deeper than expected, and below the oil water contact. Good hydrocarbon shows were observed below the oil water contact but were currently evaluated as not producible hydrocarbons.

A comprehensive data acquisition program was performed including coring, wire line logging and fluid sampling.

Well 16/5-2S is the first of an extensive Avaldsnes appraisal program comprising at least four wells in PL501 during 2012. This appraisal campaign will address key development planning uncertainties to ensure an efficient and optimal field development process for this exciting discovery.

The impact of this well on the southern extent of the Avaldsnes discovery is currently being evaluated and will most likely reduce current resource estimates for this area. Further geophysical studies and possible appraisal drilling will be required to determine whether the deeper than prognoses, top reservoir depth at this location, is not a local effect.

The well was drilled to a total depth of 2,042 metres MD and in a water depth of 111 metres.

Lundin Petroleum used the semi submersible drilling rig Bredford Dolphin to drill the well. After permanent abandonment of well 16/5-2S the rig will move to the next appraisal well location in PL501, well 16/2-11.

The results of the well will be incorporated into the current reservoir model. A revised resource estimate will be released after the completion of the next appraisal well 16/2-11.

Lundin Norway AS is the operator of PL501 with 40% interest. Partners are Statoil Petroleum AS with 40% interest and Maersk Oil Norway with 20% interest.

View the original article here

Lundin Petroleum spuds Bertam-2 appraisal well

Lundin Petroleum spudded the Bertam-2 appraisal well in the PM307 Production Sharing Contract (PSC) area, offshore Peninsular Malaysia.

Bertam-2 is planned to be drilled to a total depth of 1,888 metres by the jack-up rig Offshore Courageous.

The objectives of the well are to appraise and test the Oligocene lower coastal plain sandstones of the PM307 PSC area.

The Bertam field was discovered by the Bertam-1 well drilled in 1995. Bertam-1 discovered oil in the K10 sandstone reservoir and flowed 34°API oil at a rate of 624 barrels of oil per day on a short-term production test.

Bertam-2 is located to the northeast of the Bertam-1 discovery well in 76 metres water depth and aims to test the continuity and quality of the K10 oil reservoir and also explore the potential of deeper sands in an independent closure on the northern side of the structure.

The PM307 PSC is operated by Lundin Malaysia BV with 75 percent equity interest. Partner in PM307 is PETRONAS Carigali Sdn. Bhd. with 25 percent.

Bertam-2 is the fifth and final well in Lundin Petroleum's 2011 Malaysia exploration drilling campaign.

View the original article here

Lundin Petroleum spuds appraisal well, offshore Norway

Lundin Petroleum reported that drilling of the appraisal well 16/5-2S on the Avaldsnes discovery located in the North Sea sector of the Norwegian Continental Shelf (NCS), has commenced.

The planned total vertical depth is approximately 2,150 meters below mean sea level and the well will be drilled using the semi-submersible drilling rig Bredford Dolphin.

The drilling operation is expected to take approximately 40 days.

The objective of the well is to appraise the Avaldsnes discovery following the 16/2-6 discovery well in 2010 and the successful appraisal wells 16/3-4 and 16/2-7 drilled earlier this year. The 16/5-2S well will be followed in 2012 by further Avaldsnes appraisal wells in PL501.

Lundin Petroleum has previously announced estimated gross contingent recoverable resources for the Avaldsnes discovery located in PL501 of between 800 million and 1.8 billion barrels of oil.

The gross contingent recoverable resources of the Aldous Major South discovery located in PL265 have been estimated previously by Statoil at between 900 million to 1.5 billion barrels of oil.

The Avaldsnes/Aldous Major South discovery is therefore estimated to contain gross contingent recoverable resources of 1.7 to 3.3 billion barrels, which is one of the largest discoveries on the Norwegian Continental Shelf.

Lundin Petroleum is the operator of PL501 with 40 percent interest. Partners are Statoil Petroleum AS with 40 percent and Maersk Oil Norway AS with 20 percent interest.

Lundin Petroleum is a partner with a 10 percent interest in PL265. Statoil Petroleum AS is the operator with 40 percent, Petoro has 30 percent and Det Norske oljeselskap ASA has 20 percent interest.

View the original article here

Lundin discovery offshore Malaysia

Lundin Petroleum has discovered oil in the Janglau-1 well that was drilled in Block PM308A, offshore Peninsular Malaysia.

Janglau-1 was drilled to a total depth of 3,820 metres by the jackup rig "Offshore Courageous".

The objectives of the well were Oligocene intra-rift sands and the underlying fractured pre-Tertiary section.

During drilling below 3,153 metres, oil was found in multiple pay sand units in an intra-rift sand/shale section that extended over a gross interval of approximately 300 metres. Oil samples were recovered at surface during drilling.

The well was successfully logged and petrophysical analysis indicates 24 metres of net oil pay. Pressure testing and fluid sampling were completed and oil samples recovered for laboratory analysis. A mini-DST test was successfully completed.

Following completion of the well further work will be undertaken on the data recovered to fully evaluate the discovery and it’s potential.

"Janglau-1 results is further validation of Lundin Petroleum's strategy of pursuing organic growth opportunities in focused core areas with evidence of active petroleum systems," said Ashley Heppenstall.

"This is Lundin Petroleum’s first discovery in this area and follows 2 prior gas discoveries in the Sabah core area drilled earlier in 2011. Janglau-1 confirms a new oil play where Lundin Petroleum has built a significant production sharing contract position. Lundin Petroleum together with partners look forward to further exploration drilling in PM308A in the coming years and building on the encouragement provided by Janglau-1."

The PM308A production sharing contract (PSC) is operated by Lundin Malaysia BV with 35 percent equity interest. Partners are JX Nippon Oil & Gas Exploration (Peninsular Malaysia) Limited with 40 percent and PETRONAS Carigali with 25 percent.

Following completion of Janglau-1 the Offshore Courageous jackup rig will move to the Bertam-2 appraisal well location in the adjacent PM307 PSC area.

View the original article here

Lundin Petroleum: PDO approval for Brynhild

Lundin Petroleum reported the approval from the Norwegian Ministry of Petroleum and Energy of the Plan for Development and Operation (PDO) for the Brynhild field in PL148, located in the Norwegian North Sea.

First production from the Brynhild field is expected in late 2013.

The Brynhild field is located adjacent to the Norway-United Kingdom border, some 210 km from the Norwegian mainland. The development of Brynhild will be a three well subsea tie-back to the Pierce FPSO located in the United Kingdom, 38 km south of the field.

The estimated gross reserves are approximately 20 million barrels of oil equivalents (MMboe) with net peak production of approximately 12,000 barrels of oil equivalents per day (boepd). The hydrocarbons will be processed at the Pierce FPSO before being offloaded for further transportation.

Lundin Petroleum has a 50 percent working interest in the Brynhild field and is operator. Partners are Talisman with 30 percent and Noreco with 20 percent.

View the original article here