Lundin spuds exploration well on Storm prospect in North Sea

An exploratory well spudded by Lundin Petroleum AB on the Storm prospect offshore Norway will assess an Upper Jurassic sandstone productive since 1983 in Magnus oil field in UK waters 35 km to the south.

Lundin will drill exploration well 33/2-1 to a total depth of 4,500 m below mean sea level using the Transocean Arctic semisubmersible drilling unit over 80 days. The well is part of PL555, 200 km west-northwest of Floro on the Norwegian west coast and 65 km northwest of the Snorre field.

Lundin estimates Storm to have the potential to contain unrisked, gross prospective resources of 89 million boe.

Lundin Norway is PL555 operator with 60% interest. Bayerngas Norge holds the remaining 40%.