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Lundin Petroleum AB Spuds Appraisal Well 16/2-21 on Johan Sverdrup Discovery in License Shared with Staoil's Statoil Petroleum AS and AP Moeller Maersk A/S's Maersk Oil Norway

Monday, 6 May 2013 10:11am EDT 

Lundin Petroleum AB announced that s wholly owned subsidiary Lundin Norway AS (Lundin Norway) has commenced drilling of appraisal well 16/2-21, in PL501, on the Johan Sverdrup discovery located in the North Sea sector of the Norwegian Continental Shelf (NCS) in the license shared with subsidiaries of Statoil ASA and AP Moeller Maersk A/S. The well is located in the central part of the discovery, which Lundin Petroleum has previously referred to as the B location, with the objective to establish the depth, quality and thickness of the Jurassic reservoir sequences. The closest well, 16/2-7, is located approximately 2.5 kilometers (km) to the east. Well 16/5-2S is located 3.8 km to the south. The planned total depth is approximately 2,050 meters below mean sea level and the well will be drilled by using the semi-submersible drilling rig Bredford Dolphin. The drilling operation is expected to take approximately 50 days. Well 16/2-21 is the first of a three-well appraisal drilling campaign at Johan Sverdrup, in PL501, to be drilled during 2013. Lundin Petroleum is the operator of PL501 with 40% interest. Partners are Statoil Petroleum AS with 40% and Maersk Oil Norway with 20% interest. 

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