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February 06, 2016 11:34 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Lundin Norway AS

Company Overview

Lundin Norway AS explores, develops, and produces hydrocarbons with a primarily focus on oil on the Norwegian continental shelf. 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 B

Lysaker,  1366

Norway

Founded in 2003

Phone:

47 67 10 72 50

Fax:

47 67 10 72 51

Key Executives for Lundin Norway AS

Managing Director and Director
Compensation as of Fiscal Year 2015.

Lundin Norway AS Key Developments

Lundin Norway AS Commences Drilling of Exploration Well 16/4-10 on the Fosen Prospect

Lundin Norway AS has commenced drilling of exploration well 16/4-10 on the Fosen prospect. The well is located approximately 27 km south of the Edvard Grieg field and 11 km south of the Luno II discovery on the Utsira High on the Norwegian Continental Shelf (NCS). Well 16/4-10 will explore the Fosen prospect which is located on the southern flank of the Utsira High, west of the South Viking Graben in the North Sea. The main objective of the well is to test the hydrocarbon potential and reservoir properties at Jurassic sandstones level. The Fosen prospect is estimated to contain gross unrisked prospective resources of 192 MMboe. The planned total depth for the well is approximately 2,500 metres. The well will be drilled with the semi-submersible drilling unit Island Innovator and is expected to take approximately 50 days.

Lundin Norway AS Completes Drilling and Evaluation of Exploration Well

Lundin Petroleum AB (Lundin Petroleum) announced that its wholly owned subsidiary Lundin Norway AS (Lundin Norway) has completed the drilling and evaluation of exploration well 6407/10-4 on the Lorry prospect. The well is located in PL700B, on the northern part of the Frøya High in the southern Norwegian Sea. The well was dry and has been plugged and abandoned. The main target was to test the Upper Jurassic pinchout play, and prove presence of hydrocarbon in the Rogn Formation. The Upper Jurassic was encountered, but with no development of Rogn reservoir. Exploration well 6407/10-4 is the first well drilled in PL700B. The well was drilled to a total depth of 3,224 metres below mean sea level in a water depth of 335 metres. The well was drilled with the semi-submersible drilling unit Island Innovator and has been permanently plugged and abandoned.

Lundin Norway AS Completes the Drilling and Evaluation of Exploration Well 7130/4-1 on the Ørnen Prospect

Lundin Petroleum AB announced that its wholly owned subsidiary Lundin Norway AS (Lundin Norway) has completed the drilling and evaluation of exploration well 7130/4-1 on the Ørnen prospect. The well is located in PL708, on the eastern parts of the Finnmark Platform in the southern Barents Sea. The well was dry and has been plugged and abandoned. The main target consisting of Upper Permian spiculites and carbonates was encountered and cored, but the reservoir quality was poorer than expected. Sampling encountered only water with no indications of movable hydrocarbons. The secondary target, Permo-Carboniferous carbonates, was encountered with minor hydrocarbon shows and poor reservoir characteristics. Subsequently, the well was deepened into the third target, Lower Carboniferous sandstones (Soldogg Formation) encountering moderate to good sands with an uncommercial 5 metre gas column. Extensive data acquisition and sampling was carried out including conventional coring and fluid sampling. Exploration well 7130/4-1 is the first well drilled in PL708. The well was drilled to a total depth of 3,160 metres below mean sea level in a water depth of 288 metres. The well was drilled with the semi-submersible drilling unit Transocean Artic and will be permanently plugged and abandoned. Lundin Norway is the operator of PL708 with a 40% working interest. The partners are Edison Norge with 20%, Lukoil Overseas North Shelf with 20%, Lime Petroleum Norway with 10% and North Energy with 10%.

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