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Lundin Petroleum Confirms Northern Extension of Aldous Major South Discovery

Lundin Petroleum has confirmed the expansion of the Aldous major south discovery in PL265 towards north, through the drill program in the appraisal well 16/2-10 that is located in the Norwegian North Sea. The company discovered the Aldous Major South discovery in PL501, which is an expansion of the Avaldsnes discovery.

The company has drilled an appraisal well and has obtained a 50-55 m of gross oil column in the Jurassic age sandstone. It has used Transocean Leader, a semi submersible drilling rig, to drill the well. Lundin is continuing the acquisition of additional data.

Before the drilling program, Statoil had calculated the range of gross recoverable reliant resource for the Aldous Major South discovery of 400 to 800 M barrels of oil in PL265. When the company has examined the data from this appraisal well, Statoil will modify the range of the contingent resource.

Recently, the company has updated the gross reliant resource calculation to be 800 M to 1.8 B barrels of recoverable oil, for the discovery in PL501. The Aldous or Avaldsnes major south discovery is calculated to have 1.2 to 2.6 B barrels of recoverable oil as gross reliant resources.

Lundin Petroleum has 10% interest and is a partner in PL265. Statoil, which has 40% interest in PL265, is the operator, wherein Petoro holds 30% and Det Norske oljeselskap holds 20%.

This company has 40% interest in PL501 and is the operator. Statoil Petroleum with 40% interest and Maersk Oil Norway with 20% interest are the partners in PL501.

Source: http://www.lundin-petroleum.com/

Joel Scanlon

Written by

Joel Scanlon

Joel, originally from the UK, emigrated to Australia in 1995 and spent 5 years working in the mining industry as an exploration Geo-technician where he developed skills in GIS Mapping and CAD. Joel also spent a year working underground in a gold/copper mine. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm before starting a successful business providing graphic and web design services to local businesses on the eastern seaboard of Australia. Joel is skilled in project management, content production, design, animation, database and networking, software, and editing. Joel has been with AZoNetwork since its inception in 2000.

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