Exploration Drilling To Start Offshore Barents Sea

Published at 10:42AM - 09/06/16

The Norwegian Petroleum Directorate (NPD) has granted Lundin Norway a permission to start drilling offshore on exploration well 7220/11-3 AR.

The well will be drilled using the Leiv Eiriksson semisubmersible drilling rig, in production licence 609, located in the Barents Sea.

“The drilling programme for the well aims to deepen appraisal well 7220/11-3 A, which had been temporarily plugged and abandoned in 2015, in production licence 609,” read a statement from NPD.

Exploration Drilling To Start Offshore Barents Sea

“The permit is contingent on the operator securing all other permits and consents required by other authorities prior to commencing the drilling activities,” the statement adds.

Lundin Norway operates the well, with a 40% stake, while Idemitsu Petroleum and DEA Norge hold a 30% stake each.

Lundin Petroleum Offshore Drilling Operations
Lundin Petroleum Offshore Drilling Operations

The production license was awarded in May 2011, during the 21st licensing round on the Norwegian shelf.

Lundin recently announced the acquisition of a 15% stake in the Edvard Grieg field from Statoil, whereby the latter will own approximately 68.4 million shares in Lundin Petroleum.

Drill-Ready Prospects In The Barents Sea

In late May, Lundin Norway was awarded five exploration licenses in the southern Barents Sea, during the 23rd Norwegian Licensing Round. The company will operate three of the licenses.

According to the company’s Managing Director, Kristin Faerovik, the licenses awarded are regarded as “high impact exploration acreage in the southern Barents Sea” and will enable Lundin

Norway to further consolidate its “leading acreage position in the Loppa High”, where it already holds the Alta and Gohta oil findings.

“I am particularly excited about the billion barrel prospectivity on the acreage awarded in the southeastern Barents Sea. This acreage is for the first time being made available for oil and gas exploration and with the new 3D seismic data we have available means that these prospects are drill-ready,” she said.