Lundin Petroleum AB said its Norwegian subsidiary has spudded the 7120/6-3 S exploratory well on the Snurrevad-Juksa prospect in PL490 in the Barents Sea offshore Norway.
Main objective of the well, 10 km northwest of Snohvit field, is to prove the presence of hydrocarbons in Lower Cretaceous/Upper Jurassic reservoirs.
Lundin Norway is operator of PL490 with 60% interest. Noreco Norway AS and Spring Energy Norway AS have 20% each. Subject to approval from the authorities, Spring Energy will acquire a further 10%, raising its stake to 30% and trimming Lundin’s to 50% after the farmout.