Lundin Petroleum AB's subsidiary completes side-track well on Torvastad prospect on license shared with Statoil ASA and AP Moeller Maersk A/S' subsidiaries

Tuesday, 28 Jan 2014 02:08am EST 

Lundin Petroleum AB:Says its subsidiary Lundin Norway AS announced that side-track well 16/2-20A on Torvastad prospect on PL501, shared with Statoil ASA and AP Moeller Maersk A/S’ subsidiaries, in the North Sea sector of Norwegian Continental Shelf, is in the process of being completed.Says the well 16/2-20A has been drilled as a side-track 770 meters west of the main Torvastad exploration well 16/2-20S, to investigate the potential of an up-flank continuous Jurassic reservoir.Says the reservoir section has been cored with oil shows, but demonstrates poor reservoir quality.Says wireline logging is ongoing and preliminary results confirm the core observations and further wire-line logging is required to confirm the initial results.Says Lundin Norway is the operator of PL501 with 40 percent interest and the partners are Statoil Petroleum AS with 40 percent interest and Maersk Oil Norway with 20 percent interest.Says once the logging of the well has been completed, the Island Innovator rig will move to PL338 to drill the Edvard Grieg South East appraisal well 16/1-18. 

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