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

Norway

Founded in 2003

Phone:

47 67 10 72 50

Fax:

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.

Similar Private Companies By Industry

Company Name Region
Maanwende B.V. Europe
RWE Dea Norge AS Europe
Rolv Berg Drive A/S Europe
Fred Olsen Drilling AS Europe
Bayerngas Norge AS Europe

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
August 11, 2014
PL674 in Norway
Merger/Acquisition
July 4, 2014
PL359 Licence
Merger/Acquisition
June 17, 2014
PL359 Licence
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
NYC2012, Inc. United States
Lawyers Committee for Civil Rights Under Law United States
Bertelsmann AG Europe
Rush University United States
Greater Houston Partnership United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact Lundin Norway AS, please visit www.lundin-norway.no. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.