Statoil Makes Small Oil Discovery in North Sea

Lundin Petroleum AB has announced that exploration well 16/2-18S (Cliffhanger North), drilled west of the main bounding fault for the Johan Sverdrup discovery, has been completed as a small oil discovery.

Exploration well 16/2-18S, located on Statoil operated PL265, was drilled west of Johan Sverdrup discovery approximately 9 kilometres west of discovery well 16/2-6 and 3 kilometres west of appraisal well 16/2-14. The primary objective of the well was to explore for a westerly extension of the Jurassic reservoir, approximately 2 kilometres west of the main bounding fault for the Johan Sverdrup discovery onto the southern Utsira basement high. The secondary objective was to investigate reservoir properties of the basement.

No Jurassic reservoir was found. The upper part of a weathered and fractured granitic basement was cored and logged and a mini-drill stem test (DST) was carried out. An oil zone of 15 metres with poor production characteristics was proven and no oil water contact was established. The oil is not in communication with the Johan Sverdrup discovery.

The well was drilled to a vertical depth of 1,948 metres below mean sea level and will now be plugged and abandoned.

The well was drilled using the semi-submersible drilling rig Ocean Vanguard.

Lundin Norway AS has 10 percent interest in PL265. Statoil Petroleum AS is the operator with 40 percent interest with partners Petoro (30%) and Det norske oljeselskap ASA (20%).

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Press Release, August 7, 2013