Sweden-based independent oil and gas exploration and production company Lundin Petroleum through its wholly-owned subsidiary Lundin Norway has tested the Luno II oil discovery in the North Sea sector of the Norwegian Continental Shelf (NCS).
The oil discovery is located in PL359 on the south western flank of the Utsira High about 15km south of the Lundin Petroleum operated Edvard Grieg field.
Lundin tested the exploration well 16/4-6S on the Luno II prospect and it flowed at more than 2,000 barrels of oil per day through a 48/64 inch choke with a gas to oil ratio of 1,100 standard cubic feet per barrel.
Lundin Petroleum estimates the Luno II structure to spread across two separate reservoir segments containing gross contingent resources of 25 million barrels of oil equivalents (MMboe) to 120 MMboe.
The discovery well in the southern segment of the Luno II structure proved the presence of a Jurassic/Triassic reservoir with a gross oil column of 45m and proved an oil water contact at 1,950m below mean sea level.
Lundin Petroleum president and CEO Ashley Heppenstall said the company announced another significant discovery in the Utsira High region, which in terms of size and location is likely to be commercial.
“We have an active exploration programme this year in the Utsira High area and look forward to further discoveries in the area,” Heppenstall added.
Lundin Norway is the operator of the PL359 with a 40% interest, while partners Statoil Petroleum has 30% and Premier Oil holds 30%interest.