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Norway: Avaldsnes south area resource likely smaller

Results from the 16/5-2S appraisal well will most likely reduce the current resource estimate for the southern part of the Avaldsnes discovery in the North Sea off Norway, said Lundin Petroleum AB, Stockholm.

Well 16/5-2S, 8.5 km south of the Avaldsnes 16/2-6 discovery well and 4 km south of the 16/2-7 appraisal well, encountered a 15-m Jurassic sequence of which the upper 8 m has excellent reservoir quality. Top reservoir was found deeper than expected and below the oil-water contact. Good hydrocarbon shows were observed below the oil-water contact but were currently evaluated as not producible hydrocarbons.

Well 16/5-2S is the first of an Avaldsnes appraisal program of at least four wells in PL501 during 2012. This appraisal campaign will address key development planning uncertainties to ensure an efficient and optimal field development process.

Further geophysical studies and possible appraisal drilling will be required to determine whether the deeper than prognoses top reservoir depth at this location is not a local effect.

The 16/5-2S well went to 2,042 m measured depth in 111 m of water. The next appraisal well is 16/2-11, after which a revised resource estimate will be released.

Lundin Norway AS is the operator of PL501 with 40% interest. Partners are Statoil Petroleum AS with 40% and Maersk Oil Norway with 20%.


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