March 04, 2015 8:33 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Lundin Norway AS

Company Overview

Lundin Norway AS engages in the exploration, development, and production of oil deposits on the Norwegian shelf. The company is involved in evaluating and maturing the Johan Sverdrup oil discovery; developing the Brynhild and Edvard Grieg fields; and producing oil from Alvheim, Volund, and Gaupe assets. It also engages in the drilling of exploration well 33/12-10 S in PL631 to test the reservoir properties and hydrocarbon potential of the Upper Jurassic sandstones equivalent to the reservoir in the Borg field. The company was founded in 2003 and is based in Lysaker, Norway with an additional office in Harstad. Lundin Norway AS operates as a subsidiary of Lundin Petroleum AB (publ).

Strandveien 50 D

Lysaker,  1366


Founded in 2003


47 67 10 72 50


47 67 10 72 51

Key Executives for Lundin Norway AS

Managing Director
Compensation as of Fiscal Year 2014.

Lundin Norway AS Key Developments

Lundin Norway Signs Farm-Out Agreement with Lime Petroleum Norway AS

Lundin Norway has signed a farm-out agreement with Lime Petroleum Norway AS (Lime Petroleum) whereby Lime Petroleum will acquire a 30% working interest in PL338C. PL338C contains the Gemini prospect which is currently being drilled with the Island Innovator rig. Following this transaction, and subject to government approval, Lundin Norway will hold an operated 50% working interest in PL338C with Lime Petroleum holding 30% and OMV Norge AS 20%.

Lundin Petroleum Spuds Exploration Well on the Gemini Prospect Southwest of the Edvard Grieg Field, Offshore Norway

Lundin Petroleum AB, through its wholly owned subsidiary Lundin Norway AS, announced that drilling of exploration well 16/1-24 in PL338C southwest of the Edvard Grieg field, has commenced. The well will investigate the hydrocarbon potential of the Gemini prospect. The well is located in PL338C approximately 10 km southwest of the Edvard Grieg field. The main objective of well 16/1-24 is to test the reservoir properties and hydrocarbon potential of Lower Paleocene aged sandstones of the Ty Formation. Lundin Petroleum estimates the Gemini prospect to have the potential to contain unrisked, gross prospective resources of 93 million barrels of oil equivalent (MMboe). The planned total depth is approximately 2,192 metres below mean sea level and the well will be drilled using the semi-submersible drilling rig Island Innovator. The drilling operation is expected to take approximately 40 days.

Lundin Completes Drilling of Wildcat Well 26/10-1

Lundin Petroleum AB, through its wholly owned subsidiary Lundin Norway AS (Lundin Norway), has completed the drilling of wildcat well 26/10-1. The well investigated the hydrocarbon potential of the Zulu prospect in PL674BS, which is located 100 km west of Stavanger on the Norwegian west coast and approximately 30 km northeast of the Johan Sverdrup discovery. The main objective of well 26/10-1 was to test the hydrocarbon potential in the Miocene Utsira Formation sand. The well encountered Utsira Formation sand with very good reservoir quality. The well encountered gas in an upper 24 metres sand sequence. Pressure measurements imply a gas column of 36 metres at the well. Thorough logging and sampling has been performed. Fluid data will be analysed and detailed mapping performed for resource potential evaluation. The well is being plugged and abandoned as a gas discovery. The well was drilled by the drilling rig Island Innovator to a total depth of 995 metres subsea and was terminated in sediments of presumed Oligocene age Hordaland Group. The well was drilled in a water depth of 140 metres on the Patch Bank Ridge. This well was the first exploration well in licence PL674BS, which was awarded as a part of PL674 in APA 2012 and carved out as a separate licence in 2014. Lundin Norway is operator with a 35% working interest. Petrolia Norway and E.ON E&P Norge are partners with 35 and 30% working interest respectively.

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Recent Private Companies Transactions

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