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Lundin starts 33/12-10 S exploration well drilling in Norway

Lundin Petroleum has commenced drilling on the 33/12-10 S exploration well in PL631on the Vollgrav South prospect in the northern-region of the North Sea, Norway.


PL631 is situated 150km west of Florø on the Norwegian west-coast and between the Gullfaks and Statfjord fields.


The 33/12-10 S well will identify the reservoir properties and hydrocarbon potential of the Upper Jurassic Sandstones, similar to the reservoir in the Borg field.


A Bredford Dolphin rig will be used to drill the well to a total planned depth of 3,050m below mean sea level.


The Vollgrav South prospect is estimated to contain unrisked, gross prospective resources of 57million barrels of oil equivalent (MMboe).


Lundin Norway operates PL631 with a 60% working interest, while Bayerngas Norge and Fortis Petroleum Norway have 30% and 10% stakes respectively.


Norway is Lundin Petroleum's principal area of operations with reserves of 146.6 MMboe, which accounts for 76% of its total reserves.


The company, which has proven and probable reserves of 194 MMboe, recently completed drilling the 16/4- 8 S appraisal well in the Luno II discovery, offshore Norway.


Lundin Petroleum has an ongoing exploration / appraisal programme in Norway, under which 12 wells are due to be drilled this year.


The company said that the average production from the Norwegian assets amounted to 23,900 barrels of oil equivalent per day in 2013.


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