Lundin Petroleum spuds exploration well on the Børselv prospect in the southern Barents Sea

Stockholm, 2017-08-31 08:30 CEST (GLOBE NEWSWIRE) --  

Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that its wholly owned subsidiary Lundin Norway AS (Lundin Norway) has commenced drilling of exploration well 7220/6-3 on the Børselv prospect in PL609 on the Loppa High in the southern Barents Sea.

The well is located on-trend north of the Alta and Neiden oil discoveries, approximately 18 km northwest of the Neiden discovery well.

The main objective of the well is to test the reservoir properties and hydrocarbon potential of Permian-Carboniferous carbonate reservoirs. The Børselv prospect is estimated to contain gross unrisked prospective resources of 244 MMboe.

The well will be drilled with the semi-submersible drilling rig Leiv Eiriksson and is expected to take approximately 35 days. Planned total depth for the well is approximately 1,300 metres.

Lundin Norway is the operator of PL609 with a 40 percent working interest. The partners are DEA Norge AS and Idemitsu Petroleum Norge AS with 30 percent working interest each.

Lundin Petroleum is one of Europe's leading independent oil and gas exploration and production companies with operations focused on Norway and listed on NASDAQ Stockholm (ticker "LUPE"). Read more about Lundin Petroleum's business and operations at www.lundin-petroleum.com.

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