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Lundin Petroleum completes the Snurrevad-Juksa exploration well in the Barents Sea

Monday, Nov 19, 2012

Lundin Petroleum AB (Lundin Petroleum), through its wholly owned subsidiary Lundin Norway AS (Lundin Norway), is in the process of completing the drilling of exploration well 7120/6-3 S in PL490. The well targeted two levels in the Snurrevad-Juksa prospect situated 10 km north west of the Snøhvit field in Barents Sea, offshore northern Norway.

The main objective of the well was to prove the presence of hydrocarbons in Lower Cretaceous/Upper Jurassic reservoirs.

Preliminary analysis of a cored section of the reservoir indicate thin oil bearing sands in a 8 to 9 metres zone at the top of a 25 metre Lower Cretaceous sand sequence. No reservoir was found to be present in the Snurrevad target. Further geophysical and geological studies are required to clarify the potential in the Juksa target.

The semi-submersible drilling rig Transocean Arctic drilled the well to a total depth of approximately 2,993 metres below mean sea level, in a water depth of 330 metres.

Lundin Norway is the operator of PL490 with 50 percent interest. Partners are Spring Energy Norway AS with 30 percent interest and Norwegian Energy Company ASA and with 20 percent interest.

Source: Lundin Petroleum AB

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