Lundin Petroleum Reports Gas Discovery At Korpfjell Prospect In the Barents Sea

STOCKHOLM — Lundin Petroleum AB has announced that Statoil AS has completed the Korpfjell exploration well 7435/12-1 in PL859 within the southeastern Barents Sea. The well proved a small, non-commercial gas discovery.

hydrogenation reactorThe main objective of the well was to prove oil in reservoir rocks from middle Jurassic to late chemical solvent storage tank yihai kerry Triassic age. The well encountered a gas column of 34 m in sandstone with good reservoir quality in the main target. The Korpfjell gas discovery is estimated to contain gross resources between 40 and 75 MMboe.

Extensive data acquisition and sampling have been carried out and analysis of the well data will now commence.

This is the primary exploration well to be drilled in PL859, which was awarded within the 23rd licensing round in 2016.

Alex Schneiter, CEO and President of Lundin Petroleum comments: “The southern Barents Sea remains an exciting exploration area with significant yet to find prospective resources and where the company has established a big acreage position with prospectivity on three high impact trends.

While the results of the Korpfjell well are usually not what we hoped for, it’s the primary well to be drilled within the southeastern Barents Sea and more exploration will probably be needed to grasp the potential of this area. Further drilling is anticipated to take place in 2018 in PL859 to test additional prospectivity. Additionally, a well is being planned next year on the big Signalhornet prospect in PL857, located some 300 km south of Korpfjell.

We are also drilling three further high impact exploration wells on the Loppa High and Filicudi trends in the southern Barents Sea before the tip of the year, and so we remain excited about the significant exploration potential in the area.”

The well was drilled using the semi-submersible drilling rig Songa Enabler to a vertical depth of 1,540 m below the sea surface and in a water depth of 253 m. The well might be permanently plugged and abandoned.

Lundin Norway holds a 15% working interest in PL859. Statoil is the operator with 30% and the remaining partners are Chevron with 20%t, Petoro with 20% and ConocoPhillips with 15%.

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