Lundin Petroleum resumes drilling at well in PL519 offshore Norway

26 August 2012 (Last Updated August 26th, 2012 18:30)

Lundin Petroleum has resumed drilling of exploration well 6201/11-3 in PL519 offshore Norway. The well targets the Albert prospect.

Lundin Petroleum has resumed drilling of exploration well 6201/11-3 in PL519 offshore Norway. The well targets the Albert prospect.

With this exploration well, the firm aims to test Cretaceous and Triassic age sandstones of a multiple target structure.

The company estimates the Albert prospect to contain unrisked, gross, prospective resources of 177 million barrels of oil equivalent (MMboe).

The well, which has planned total depth of 3,150m, has resumed drilling activity at 2,120m. The drilling of well 6201/11-3 is likely to take 25 days.

Lundin Petroleum is the operator of PL519 with 40% interest, while Bayerngas Norge, Norwegian Energy Company and Spring Energy Norway hold 20% interest each, respectively.

The Swedish oil and gas exploration and production firm has a portfolio of assets primarily located in Europe and South East Asia. It has proven and probable reserves of 211MMboe.