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August 02, 2015 10:26 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 and Director
Compensation as of Fiscal Year 2015.

Lundin Norway AS Key Developments

Lundin Norway AS Installs Topside Modules on the Edvard Grieg Field, Offshore Norway

Lundin Norway AS has successfully completed the installation of the topside modules on the Edvard Grieg field, offshore Norway. The Edvard Grieg topside installation consisted of lifting four modules onto the pre-installed jacket - the main deck frame, the utility and living quarters module, the processing module and the flare boom with a total weight of 22,000 tonnes. The lift operation was carried out by Heerema's heavy lift vessel Thialf. The final offshore hook up and commissioning of these modules has now begun with production expected to commence in the fourth quarter of 2015. Two of the production wells have been drilled and completed and are ready to be tied-in to the platform.

Lundin Norway AS, Wintershall Norge AS and Centrica Resources (Norge) AS Announce Drilling Results

Lundin Petroleum AB announced that its wholly owned subsidiary Lundin Norway AS has completed wildcat well 10/4-1. The well was drilled in PL734, approximately 35 km southeast of the Yme field in the southern North Sea. The exploration well 10/4-1, operated by Wintershall Norge AS, was targeting the Zeppelin prospect. The well encountered a sandy reservoir in the Vestland Group, but without hydrocarbon shows. It was drilled by the drilling rig Borgland Dolphin to a total vertical depth of 2,384 meters subsea. The well is being plugged and abandoned as a dry well. Lundin Norway is a partner in PL734 with 30% working interest. The operator is Wintershall Norge AS with 40% working interest while Centrica Resources (Norge) AS has 30% working interest.

Lundin Norway Spuds Exploration Well on the Luno II North Prospect, Northwest of the Luno II Discovery, Offshore Norway

Lundin Petroleum AB announced that its wholly owned subsidiary Lundin Norway AS has commenced drilling of exploration well 16/4-9 S on the Luno II North prospect. The Luno II discovery is located approximately 15 km south of the Edvard Grieg field in the North Sea sector of the Norwegian Continental Shelf. The well is located in PL359 and will explore the Luno II North segment, located directly northwest of the Luno II discovery. The main objective of well 16/4-9 S is to test the hydrocarbon potential and reservoir properties in the Luno II North prospect. The reservoir is expected to be of Jurassic/Triassic age. Lundin Petroleum estimates the Luno II North prospect to contain gross unrisked prospective resources of 24 million barrels of oil equivalents (MMboe). This prospect is adjacent to the Luno II discovery which has an estimated contingent resource range of 27 to 71 MMboe. The planned total depth is approximately 2,490 metres below mean sea level and the well will be drilled with the semi-submersible drilling unit Bredford Dolphin. The drilling operation is expected to take approximately 50 days. Lundin Norway is the operator of PL359 with 50% working interest. The partners are OMV (Norge) AS with 20%, Wintershall Norge AS with 15% and Statoil Petroleum AS with 15% working interest.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
August 11, 2014
PL674 in Norway
 

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