Rig: Island Innovator

Name Island Innovator
Owner Island Drilling Company ASA
Manager Odfjell Drilling
Rig Type Semisub
Sub Type Midwater Floater
Jackup Type --
Max Water Depth (ft) 2460
Max Drill Depth (ft) 30000
Dimensions (ft) 343 x 213 x 157
Leg Length (ft) --
Competitive Yes

Current Location

Country UK
Region NWECS

Drilling Equipment

Drawworks Type National Oilwell Varco ADS 30Q
Drawworks HP --
Mud Pumps Type National Oilwell Varco 14-P-220 Triplex
Top Drive National Oilwell Varco HPS-750
Hookload Capacity (lbs) 1300000

Rig Construction Details

Rig Design Global Maritime
Rig Model GM4000-WI
Year Built 2012
Country of Build China (PRC)
Yard Name COSCO (Zhoushan) Shipyard
Group Yard Name COSCO Shipyard Group Co., Ltd. (COSCO)

Rig Contract Details

Operating Status Operational
Operator

News

6 Jul 2017

Safety Clearence for Wisting

OMV has received safety clearance from the Petroleum Safety Authority (PSA) to drill the 7324/8-3 well on the Wisting Central 3 prospect. OMV will use the Island Innovator to drill the well. Drilling is expected to start during mid-August and will take around 31 days to drill. The well was initially due to last 47 days when OMV submitted its application to the Environment Agency, however this has since been revised down.

24 Apr 2017

Delineation of the Edvard Grieg field in the North Sea – 16/1-27

Lundin Norway AS, operator of production licence 338, has completed the drilling of appraisal well 16/1-27 on the Edvard Grieg oil field in the central part of the North Sea. The well was drilled about three kilometres southwest of the Edvard Grieg platform. The field was proven in the autumn of 2007, and consists of Cretaceous and Jurassic/Triassic reservoir rocks. Before well 16/1-27 was drilled, the operator’s resource estimate for the field was 35 million standard cubic metres (Sm3) of recoverable oil equivalents. The objective of the well was to investigate the scope of the field, its reservoir properties and total oil column in the southwestern part of the Edvard Grieg field. The objective also included optimising the drainage strategy in order to ensure the best possible placement of development wells in this area. Well 16/1-27 encountered a total oil column of 15 metres in Cretaceous and Triassic/Jurassic sandstone with very good reservoir quality. Overall, the sandstone interval was 94 metres, an increase from 38 metres expected before the well. The oil/water contact was encountered 1948 metres below the sea surface, which is nine metres deeper than the contact in the other part of the Edvard Grieg field. Extensive data acquisition and sampling have been carried out. Preliminary calculations shows that the results from the well can lead to an increase of between 1.6 to 4.8 million standard cubic metres (Sm3) of recoverable oil in this part of the Edvard Grieg field. Further work is expected to reduce the uncertainty in this estimate. The results have provided valuable information with regard to final placement of production and water injection wells. 16/1-27 is the 11th exploration well in production licence 338 and the eighth exploration well on Edvard Grieg. The licence was awarded in APA 2004. Appraisal well 16/1-27 was drilled to a vertical depth of 2229 metres below the sea surface and was terminated in granitic basement. The well has been permanently plugged and abandoned. The well was drilled by the Island Innovator drilling facility.

11 Apr 2017

Edvard Grieg appraisal well completed

Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that its wholly owned subsidiary Lundin Norway AS (Lundin Norway) has completed the Edvard Grieg Southwest appraisal well 16/1-27. The appraisal well 16/1-27 in PL338 on the Edvard Grieg field is located on the southwestern flank of the field targeting additional resources. The well was drilled 3 km west of the Edvard Grieg platform. The objective of the well was to appraise the southwestern flank of the field in order to optimise the drainage strategy and to prove additional resources. The well encountered a 15 metres gross oil column in a 94 metres thick sandstone reservoir compared to the pre-drill estimate of 38 metres thickness. The top reservoir was encountered deeper than prognosed with excellent reservoir quality that was better than expected. The oil water contact was encountered at 1,948 metres below mean sea level 9 metres deeper than the established contact in this part of the Edvard Grieg field. Pressure data confirms communication with the Edvard Grieg field. Extensive data acquisition was carried out in the reservoir including conventional coring and fluid sampling. The well results confirm a preliminary resource upside for this part of the Edvard Grieg field in the order of 10 to 30 MMboe. The final implication for total reserves for the Edvard Grieg field will be quantified in the 2017 year end reserves update. The well was drilled using the semi-submersible drilling rig Island Innovator and will be permanently plugged and abandoned. Lundin Norway is the operator of PL338 and holds a 65 percent working interest. The partners are OMV Norge AS with 20 percent and Wintershall Norge AS with 15 percent working interest.

24 Feb 2017

Island Innovator has left Hanøytangen

Semco Maritime, Norway has completed the upgrade project on the rig Island Innovator. The rig left the Semco Maritime yard at Hanøytangen on Friday 24 February. It has been in the yard since September 2016. After various modification and service work the rig will now mobilize to the Edvard Grieg field in the Norwegian part of the North Sea to work for Lundin Petroleum, drilling for 16/1-27 appraisal well for 30 to 35 days. During the yard stay the 5-year SPS (Special Periodic Survey) classification has been performed on the rig. Besides that an extensive airgap project has been carried out, including blinding of 64 windows and watertight doors. The semi-submersible rig, which was built in 2012, has also undergone contractual specific modification scopes. “It has been a pleasure working together with the Island Drilling organisation and the Oddfjell project team”, says Nikolaj Vejlgaard, Vice President of operations at Semco Martime. He adds, “we are proud to have completed another rig upgrading project for a satisfied client and look forward to continuing the cooperation with Island Drilling and Odfjell”. With the facilities at Hanøytangen Semco Martime offers one of the most versatile yards, which has the deepest dry dock in Europe with a depth of 17 meter and an ultra-deep-water quayside facility with a water depth of more than 90 meter.

8 Feb 2017

Drilling permit for well 16/1-27 in production licence 338

The Norwegian Petroleum Directorate has granted Lundin Norway AS a drilling permit for well 16/1-27, cf. Section 8 of the Resource Management Regulations. Well 16/1-27 will be drilled from the Island Innovator drilling facility, at position 58°50’18.11” north and 2°11’56.83” east, in a southwesterly extension of the Edvard Grieg field in the central part of the North Sea. The drilling programme for well 16/1-17 relates to the drilling of an appraisal well on Edvard Grieg in production licence 338. Lundin Norway AS is the operator with an ownership interest of 65 per cent. The other licensees are OMV (Norge) AS with 20 per cent, and Wintershall Norge AS with 15 per cent. The area in this licence consists of part of block 16/1. The well will be drilled about 3 kilometres west of the Edvard Grieg platform. Production licence 338 was awarded on 17 December 2004 (APA 2004). This is the 11th exploration well to be drilled in the licence area and the 8th exploration well on the Edvard Grieg field. The permit is contingent upon all other permits and consents required by other authorities being granted before drilling activities commence.

30 Jan 2017

Lundin receives consent for exploration drilling on the Edvard Grieg field

Lundin has received consent to carry out exploration drilling of well 16/1-27 on the Edvard Grieg field. Lundin is the operator of the Edvard Grieg field, in the North Sea, around 140 kilometres west-southwest of Stavanger. The field is one of the largest oil fields on the Norwegian Continental Shelf. Production from the field began in 2015. The well to be drilled is an appraisal well in a structure named Edvard Grieg SW. Water depth at the site is 138 metres. Drilling is scheduled to begin on 1 March 2017 and will last 44 days. The well is to be drilled by the Island Innovator mobile drilling facility. The facility is a type GM4000, delivered by the COSCO Shipyard in China in 2012. It is owned by Island Drilling Company and operated by Odfjell Drilling. Island Innovator was issued with an Acknowledgement of Compliance (AoC) by the PSA in August 2013.

1 Apr 2016

Island Drilling Company ASA is addressing its long term financing structure

Island Drilling Company ASA (the "Company") (OTC: ISDRILL) announces its decision to formally address its long term financing structure with the aim of restructuring the Company's balance sheet. The Company's semi-submersible rig, 'Island Innovator' has come off its charter party for Lundin Norway ASA, and no new charter party has been found for the rig. A restructuring of the Company's balance sheet is therefore deemed necessary to enable the Company to come through the current market challenges, and the Company is initiating discussions with its finance providers in this respect. While these discussions are ongoing, the Company has decided to halt all payments of interest and amortization to all of its finance providers. The Company will work with its finance providers to reach a sustainable solution for the Company. While the Company is confident that such sustainable solution will be reached with the relevant stakeholders, there can be no assurance or guarantee that such final solution will be reached. During the discussions with the finance providers, the Company will continue to operate normally in all other respect. The liquidity of the Company remains stable for the period to come in anticipation of a sustainable solution with the finance providers.

7 Mar 2016

Dry well southwest of 16/4-6 S (Luno II) in the North Sea – 16/4-10

Lundin Norway AS, operator of production licence 544, is in the process of completing the drilling of wildcat well 16/4-10. The well is dry. The well is being drilled about 10 kilometres southwest of the 16/4-6 S (Luno II) oil discovery in the central part of the North Sea, 220 kilometres west of Stavanger. The objective of the well was to prove petroleum in Upper Jurassic reservoir rocks (the Ula formation). The well encountered about 160 metres of aquiferous sandstones in the Upper Jurassic to Middle Triassic, of which about 90 metres, mainly in the Middle Jurassic Sleipner formation, are of good reservoir quality. The well also encountered 75 metres of reservoir rocks with very good reservoir quality in the Paleocene Ty formation. There are traces of petroleum in the Sleipner formation. The well is classified as dry. Extensive data acquisition and sampling have been carried out. This is the second exploration well in production licence 544, which was awarded in APA 2009. Well 16/4-10 was drilled to a vertical depth of 2 638 metres below the sea surface, and was terminated in the Lower Triassic Smith Bank formation. Water depth at the site is 95 metres. The well will now be permanently plugged and abandoned. Well 16/4-10 was drilled by the Island Innovator drilling facility.

29 Feb 2016

Island Innovator to Hanoytangen

Semco Maritime is to refurbish and service semisub rig Island Innovator when the rig arrives at Semco Maritime’s dock area at Hanøytangen, Bergen, in early March. Island Innovator is owned by Island Drilling and operated by Oddfjell Drilling, and the rig is constructed in 2012 and fitted with the latest in production equipment and state-of-the-art leisure and accommodation areas with one-man cabins for the 120 person crew. “The rig arrives at Hanøytangen from an assignment for Lundin Petroleum in the Norwegian part of the North Sea to undertake minor refurbishment and maintenance. Subsequently, the rig will be docked and operational at Hanøytangen until its next contract work commences,” explains Vice President Nikolaj Vejlgaard, Semco Maritime. “Hanøytangen’s facilities include both dock and dry dock, which are tailored for assignments such as this where a rig arrives for a brief stopover, a Special Periodic Survey or large-scale upgrade work before returning to operations,” says Nikolaj Vejlgaard. At the moment, the semisub rig West Venture is also docked at Hanøytangen, while Deep Sea Atlantic has recently left the facilities. The well-equipped dock facility at Hanøytangen comprises several dock areas, including a dry dock of 116x125 meters and quay areas with depths of at least 100 meters. The dockyard is fitted with modern equipment for repair and handling of rigs, rig gear and other very large elements on water and land, including crane capacity at all docking areas.

25 Jan 2016

Lundin Petroleum spuds exploration well on the Fosen prospect, offshore Norway

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 16/4-10 on the Fosen prospect. The well is located approximately 27 km south of the Edvard Grieg field and 11 km south of the Luno II discovery on the Utsira High on the Norwegian Continental Shelf (NCS). Well 16/4-10 will explore the Fosen prospect which is located on the southern flank of the Utsira High, west of the South Viking Graben in the North Sea. The main objective of the well is to test the hydrocarbon potential and reservoir properties at Jurassic sandstones level. The Fosen prospect is estimated to contain gross unrisked prospective resources of 192 MMboe. The planned total depth for the well is approximately 2,500 metres. The well will be drilled with the semisubmersible drilling unit Island Innovator and is expected to take approximately 50 days. Lundin Norway is the operator of PL544 with a 40 percent working interest. Partners are Lime Petroleum Norway AS with a 30 percent working interest and Bayerngas Norge with a 30 percent working interest.

20 Jan 2016

Dry well near the Njord field in the Norwegian Sea – 6407/10-4

Lundin Norge AS, operator of production licence 700 B, is in the process of completing the drilling of wildcat well 6407/10-4. The well is being drilled about 17 kilometres south-west of the Njord field in the Norwegian Sea. The primary exploration target for the well was to prove petroleum in Upper Jurassic reservoir rocks (the Rogn formation). The secondary exploration target was to prove petroleum in carbonate rocks from the Permian. The well did not encounter reservoir rocks in the primary or secondary exploration targets. However, the well did encounter about 830 metres of sandstones of unknown age, with poor to moderate reservoir quality. The reservoir rocks contain only traces of petroleum. The well is classified as dry. Extensive data acquisition and sampling have been carried out. This is the first exploration well in production licence 700 B. The licence was awarded in APA 2014. Well 6407/10-4 was drilled to a vertical depth of 3224 metres below the sea surface and was terminated in basement rock. Water depth at the site is 335 metres. The well will now be permanently plugged and abandoned. Well 6407/10-4 was drilled by the Island Innovator drilling facility, which will now drill wildcat well 16/4-10 in production licence 544 in the central part of the North Sea, where Lundin Norge AS is the operator.

30 Nov 2015

Drilling permit for well 16/4-10 in production licence 544

The Norwegian Petroleum Directorate (NPD) has granted Lundin Norway AS a drilling permit for well 16/4-10, cf. Section 8 of the Resource Management Regulations. Well 16/4-10 will be drilled from the Island Innovator drilling facility in position 58°35’03.08’’ north 02°10’21.95’’ east. The drilling programme for well 16/4-10 relates to drilling of a wildcat well in production licence 544. Lundin is the operator with an ownership interest of 40 per cent. The other licensees are Bayerngas Norge AS and Lime Petroleum Norway AS, each with 30 per cent. The area in this licence consists of part of block 16/4. The well will be drilled southwest of the 16/4-6 S oil discovery (Luno II) in the central part of the North Sea. Production licence 544 was awarded on 19 February 2010 (APA 2009). This is the second exploration well to be drilled within the licence area. The permit is contingent upon the operator securing all other permits and consents required by other authorities prior to commencing drilling activities.

13 Nov 2015

Lundin Petroleum spuds exploration well on the Lorry prospect, offshore Norway

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 6407/10-4 on the Lorry prospect. The well 6407/10-4 will explore the Lorry prospect in PL700, located on the northern part of the Frøya High in the Norwegian Sea approximately 17 km northeast of VNG Norge operated Pil and Bue discoveries in the Halten Terrace. The reservoir is expected to consist of Upper Jurassic sandstone. The Lorry prospect is estimated to contain gross unrisked prospective resources of 151 million barrels of oil equivalents (MMboe). The planned total depth is approximately 3,104 metres below mean sea level and the well will be drilled with the semi-submersible drilling unit Island Innovator. The drilling operation is expected to take approximately 60 days. Lundin Norway is the operator of PL700 with a 40 percent working interest. The partners are Bayerngas Norge AS, GDF SUEZ E&P Norge AS and VNG Norge AS with 20 percent each.

6 Nov 2015

Lundin Petroleum update on Neiden exploration well, Barents Sea South

Lundin Petroleum AB (Lundin Petroleum) announces that its wholly owned subsidiary Lundin Norway AS (Lundin Norway) has successfully drilled a section of the exploration well 7220/6-2 on the Neiden prospect in PL609. Drilling operations on exploration well 7220/6-2 on the Neiden prospect have now been temporarily suspended due to winter restrictions on the use of the Island Innovator drilling rig in the Barents Sea South. Operations to complete the well are expected to resume next year. Lundin Norway is the operator of and holds a 40 percent working interest in PL609. Partners are DEA Norge AS and Idemitsu Petroleum Norge AS with a 30 percent working interest each.

7 Oct 2015

Lundin spuds Neiden prospect with Island Innovator

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 7220/6-2 in PL609. The Neiden prospect is located in the northern part of PL609, some 60 km northeast of the Alta discovery and approximately 200 km from the Norwegian coastline. Lundin Petroleum estimates the Neiden prospect to have the potential to contain unrisked, gross prospective resources of 204 million barrels of oil equivalents. The planned total depth is approximately 1,350 metres below mean sea level and the well is being drilled using the drilling rig Island Innovator. Drilling is expected to take approximately 40 days. Lundin Norway holds 40 percent working interest in PL609. Partners are DEA Norge AS and Idemitsu Petroleum Norge AS with 30 percent working interest each.

30 Sep 2015

Lundin completes drilling of Alta appraisal wells

Lundin Norway AS, operator of production licence 609, has completed the drilling of appraisal wells 7220/11-3 and 7220/11-3 A on the oil and gas discovery 7220/11-1 (Alta). The wells were drilled about four kilometres south of discovery well 7220/11-1 and approximately three kilometres northeast of appraisal wells 7220/11-2 and 7220/11-2 A. Discovery 7220/11-1 was proven in chalk rocks in the Gipsdalen group in October 2014. After drilling of the discovery well, the operator's resource estimate for the discovery was between 14 and 50 million Sm3 recoverable oil and between 5 and 17 billion Sm3 recoverable gas. The purpose of the wells was to delineate discovery 7220/11-1, and additionally to investigate the extent of the reservoir and hydrocarbon columns. Well 7220/11-3 encountered a 75-metre thick gas column and the upper part of an oil column in chalk rocks in the Gipsdalen group of good to very good reservoir quality. Due to technical challenges, the well was plugged. A decision was made to drill a sidetrack, 7220/11-3 A, about 400 metres to the southeast. The well encountered a 74-metre hydrocarbon column, 30 metres of which was a gas column and 44 metres was an oil column in reservoir rocks of good to poor reservoir quality. The age of the reservoir rock is uncertain, but is assumed to be of Triassic and/or Permian age. The well was temporarily plugged and abandoned to have the opportunity to return to it to drill deeper and, if relevant, perform a production test. Pressure gradients from wells 7220/11-3 and 7220/11-3 A show communication with discovery well 7220/11-1. Extensive data acquisition and sampling have been carried out in both wells. The results from the appraisal wells are important for the further work of mapping the east flank of the discovery. The resource estimate will be reassessed based on the new data. These are the fourth and fifth exploration wells in production licence 609. The licence was awarded in the 21st licensing round in 2011. Appraisal wells 7220/11-3 and 7220/11-3 A were drilled to measured depths of 1926 metres and 2105 metres, respectively, and vertical depths of 1925 and 1962 metres below sea level, respectively, and were terminated in the Gipsdalen group of Permian age. The water depth is 397 metres. The wells were drilled by the Island Innovator drilling facility, which will now drill wildcat well 7220/6-2 in the same production licence.

21 Aug 2015

PSA approves exploration drilling in PL700b

Lundin Norway AS (“Lundin”) is the operator for production licence 700B and has received consent to drill exploration well 6407/10-4 in the Norwegian Sea. Drilling will begin in September 2015 at the earliest and estimated to last 69 days, depending on whether a discovery is made.

11 Aug 2015

Lundin set to spud Neiden prospect

Lundin Norway AS (“Lundin”) has received consent to drill exploration well 7220/6-2 in the Barents Sea. Lundin is the operator for production licence 609 in block 7220/6 in the Barents Sea. Exploration well 7220/6-2 is to be drilled in a prospect called Neiden. Drilling is scheduled to begin in mid-August 2015 at the earliest and estimated to last 40 days.

13 Jul 2015

Lundin gets drilling permit for Neiden prospect

The Norwegian Petroleum Directorate has granted Lundin Norway AS a drilling permit for well 7220/6-2, cf. Section 8 of the Resource Management Regulations. Well 7220/6-2 will be drilled from the Island Innovator drilling facility in position 72°34’13.13” north and 20°58’19.97” east. The drilling programme for well 7220/6-2 relates to the drilling of a wildcat well in production licence 609. Lundin Norway AS is the operator with a 40 per cent ownership interest, and the licensees are Idemitsu Petroleum Norge AS with 30 per cent and RWE Dea Norge AS with 30 per cent. The production licence consists of the blocks/part of blocks 7220/6, 7220/9, 7220/11, 7220/12 and 7221/4. The production licence was awarded in the 21st licensing round in 2011. Wildcat well 7220/6-2 will be the fifth exploration well in production licence 609. This permit is contingent upon the operator having secured all other permits and consents required by other authorities before the drilling starts.

24 Jun 2015

Lundin spuds two new appraisal wells

Lundin Petroleum AB (“Lundin”) has announced that the company’s subsidiary Lundin Norway AS (“Lundin Norway”) has begun drilling its second appraisal well on the Alta field in the Barents sea and has also commenced further appraisal drilling on the Edvard Greig field in the Norwegian North Sea. Meanwhile drilling has also begun on the partner-operated Zeppelin exploration well. The second Alta appraisal well (7220/11-3) was spud in PL 609 and is targeting the Permian reservoir. The planned depth of the well is 2,070 metres and the well is being drilled from the Island Innovator. The Edvard Greig appraisal well (16/1-23 S) is located in PL 338 and Lundin Norway plans to spud the well to a total depth of 2,200 metres. Drilling is expected to take around 60 days and is being performed by the Rowan Viking jackup rig. Meanwhile the Borgland Dolphin semisub rig recently spud the Zeppelin exploration well in PL 734. Wintershall is the operator of the well (10/4-1), and believes that Zeppelin holds prospective resources of 152 MMboe. The well is expected to take 30 days to drill down to a depth of 2,300 metres.

12 Jun 2015

Lundin completes Alta appraisal drilling

Lundin Petroleum AB (“Lundin Petroleum”) is pleased to announce that its wholly owned subsidiary Lundin Norway AS (“Lundin Norway”) has successfully completed the drilling of appraisal well 7220/11-2 and sidetrack 7220/11-2 A in the western part of the Alta discovery in PL609. The Alta discovery is located 10 to 20 km northeast of Lundin Petroleum’s Gohta discovery in the Barents Sea South and approximately 160 km from the Norwegian coastline. The Alta discovery well 7220/11-1 was completed in October 2014. The preliminary evaluation of the gross recoverable oil and gas resource range from the Alta discovery well after the first well was estimated at 125 to 400 million barrels of oil equivalents. The appraisal well 7220/11-2 was located approximately 6.5 km southwest of the original Alta discovery well 7220/11-1. The main objectives were successfully achieved which were to confirm the reservoir model and prove the presence of hydrocarbon columns and fluid contacts similar to those established in the Alta discovery well. The well encountered a 50 metres thick gas column in rocks of varying reservoir quality. A sidetrack, 7220/11-2 A, was drilled 330 metres west of well 7220/11-2. The sidetrack encountered movable oil. The pressure data and fluid properties indicate communication between both the appraisal wells and the discovery well 7220/11-1. Extensive data acquisition and sampling were performed in both wells, including conventional coring and fluid sampling. One production test (DST) was carried out in 7220/11-2 A. The maximum production rate was 860 barrels of oil per day and 0.65 million cubic feet of gas per day through a 24/64” choke. The pressure build-up during the test showed increased permeability thickness away from the well bore, interpreted to be in a westerly direction based on seismic data. Ashley Heppenstall, President and CEO of Lundin Petroleum, comments; "The appraisal wells on the western flank of Alta have confirmed our geological model and the existence of hydrocarbons at this location. Whilst the reservoir encountered is of variable quality, the production test and data acquired provides us with confidence of connectivity across the structure and improved reservoir quality away from the well bore". 7220/11-2 and 7220/11-2 A are the second and third wells drilled in PL609. The license was awarded in the 21st Licencing Round in 2011. The wells were drilled to total vertical depths of 2,020 and 2,041 metres below mean sea level, respectively. The water depth was 379 metres. The wells were drilled using the drilling rig Island Innovator and are now being permanently plugged and abandoned. The Island Innovator will then proceed to drill the next appraisal well, 7220/11-3, on the eastern flank of the Alta discovery in PL609. The well is expected to spud mid-June. Lundin Norway is operator and holds 40 percent working interest in PL609. The partners are DEA Norge AS and Idemitsu Petroleum Norge AS with 30 percent working interest each.

11 May 2015

PSA approves Lundin's plan to drill exploration well 7220/11-3

Lundin Norway AS (“Lundin”) has received consent to drill exploration well 7220/11-3. Lundin is the operator for production licence 609 in block 7220/11 in the Barents Sea. Lundin has applied for consent to drill exploration well 7220/11-3. Drilling is scheduled to begin in June 2015 and estimated to last 56 days, depending on whether a discovery is made. Water depth at the site is 397 metres. The well is to be drilled by the Island Innovator mobile drilling facility. This is a semi-submersible mobile drilling facility of the GM4000-WI type, built in 2012 at Cosco Zhoushan Shipyard in China. The facility is operated by Odfjell Drilling. It is registered in Norway and classified by DNV GL. Island Innovator was issued with an Acknowledgement of Compliance (AoC) by the PSA in August 2013.

25 Mar 2015

Lundin spuds Alta appraisal

Lundin Petroleum AB (“Lundin Petroleum”), through its wholly owned subsidiary Lundin Norway AS (“Lundin Norway”), is pleased to announce that drilling of appraisal well 7220/11-2 in PL609 has commenced. The Alta discovery is located 10 to 20 km northeast of Lundin Petroleum’s Gohta discovery in the Barents Sea South and approximately 160 km from the Norwegian coastline. The appraisal well 7220/11-2 is located 6.5 km southwest of the Alta discovery well 7220/11-1 that was completed in October 2014. The main objective of well 7220/11-2 is to confirm the reservoir model and prove the presence of hydrocarbon columns and fluid contacts similar to those established in the Alta discovery well. The planned total depth is 2,020 metres below mean sea level and the well is being drilled using the drilling rig Island Innovator. Drilling is expected to take approximately 60 days. Lundin Norway holds 40 percent working interest in PL609. Partners are DEA Norge AS and Idemitsu Petroleum Norge AS with 30 percent working interest each.

17 Mar 2015

The Gemini exploration well, offshore Norway has been completed as a dry well

Lundin Petroleum AB (Lundin Petroleum), through its wholly owned subsidiary Lundin Norway AS (Lundin Norway), operator of PL338C, has completed the drilling of wildcat well 16/1-24. The well is dry. The well was drilled about 10 km southwest of the Edvard Grieg field in the central part of the North Sea and 210 km west of Stavanger. The primary exploration target for the well was to prove petroleum in Lower Paleocene Ty formation reservoir rocks. The well encountered no Ty formation sandstone. Data acquisition and sampling have been carried out. This is the first exploration well in PL338C, which was carved out from PL338 late 2014. Well 16/1-24 was drilled to respective vertical and measured depths of 2,269 and 2,299 metres below the sea surface, and was terminated in Upper Jurassic rocks. The well has been permanently plugged and abandoned. Water depth is 105 metres. The well was drilled by the Island Innovator drilling facility, which will now drill appraisal well 7220/11-2 in PL609, where Lundin Norway is the operator. Lundin Norway is the operator of PL338C with 50 percent working interest. Partners are Lime Petroleum Norway* with a 30 percent working interest and OMV Norge AS with 20 percent working interest.

3 Mar 2015

PSA gives green light for Alta well

Lundin Norway AS (“Lundin”) has received consent for exploration drilling of well 7220/11-2. Lundin is the operator for production licence 609 in block 7220/11 in the Barents Sea. Lundin is to drill well 7220/11-2, to investigate the find's potential. Expected start-up is March 2015 with a duration of approx. 62 days, depending on whether a discovery is made. The well is to be drilled by the Island Innovator mobile drilling facility. This is a semi-submersible mobile drilling facility of the GM4000-WI type, built in 2012 at Cosco Zhoushan Shipyard in China. The facility is operated by Odfjell Drilling. It is registered in Norway and classified by DNV GL. Island Innovator was issued with an Acknowledgement of Compliance (AoC) by the PSA in August 2013. The PSA has now granted Lundin consent for exploration drilling.

24 Feb 2015

Lundin farms out interest in Gemini prospect

Lundin Petroleum AB (“Lundin Petroleum”), through its wholly owned subsidiary Lundin Norway AS (“Lundin Norway”), has entered into an agreement to farm-out a 30 percent working interest in PL338C. Lundin Norway has signed a farm-out agreement with Lime Petroleum Norway AS (Lime Petroleum) whereby Lime Petroleum will acquire a 30 percent working interest in PL338C. PL338C contains the Gemini prospect which is currently being drilled with the Island Innovator rig. Following this transaction, and subject to government approval, Lundin Norway will hold an operated 50 percent working interest in PL338C with Lime Petroleum holding 30 percent and OMV Norge AS 20 percent.

16 Feb 2015

'Island Innovator' spuds Gemini prospect

Lundin Petroleum AB (“Lundin Petroleum”), through its wholly owned subsidiary Lundin Norway AS (“Lundin Norway”), is pleased to announce that drilling of exploration well 16/1-24 in PL338C southwest of the Edvard Grieg field, has commenced. The well will investigate the hydrocarbon potential of the Gemini prospect. The well is located in PL338C approximately 10 km southwest of the Edvard Grieg field. The main objective of well 16/1-24 is to test the reservoir properties and hydrocarbon potential of Lower Paleocene aged sandstones of the Ty Formation. Lundin Petroleum estimates the Gemini prospect to have the potential to contain unrisked, gross prospective resources of 93 million barrels of oil equivalent (MMboe). The planned total depth is approximately 2,192 metres below mean sea level and the well will be drilled using the semi-submersible drilling rig Island Innovator. The drilling operation is expected to take approximately 40 days. Lundin Petroleum is the operator of PL338C with 80 percent working interest. OMV Norge AS is partner with 20 percent working interest.

12 Feb 2015

NPD confirms minor gas discovery at Lundin's Zulu prospect

Lundin Norway AS, operator of production licence 674 BS, is in the process of completing the drilling of wildcat well 26/10-1. The well was drilled about 33 kilometres northeast of the discovery well, 16/2-6, on Johan Sverdrup in the central North Sea, and about 100 kilometres west of Stavanger. The purpose of the well was to prove petroleum in reservoir rocks in the Miocene (the Utsira formation). The well encountered a 24-metre total gas column in the Utsira formation with excellent reservoir quality. The well was not formation tested, but data acquisition and sampling have been carried out. Preliminary calculations of the size of the discovery are between 1.5 and 4 billion standard cubic metres (Sm3) of recoverable oil equivalents. This is the first exploration well in production licence 674 BS. On 28 October 2014, it was carved out from production licence 674, which was awarded in APA 2012. The well was drilled to a vertical depth of 995 metres below the sea surface and was terminated in the Hordaland group. Water depth at the site is 140 metres. The well will now be permanently plugged and abandoned. Well 26/10-1 was drilled by the Island Innovator drilling facility, which is now moving on to drill wildcat well 16/1-24 in production licence 338 C, where Lundin Norway AS is the operator.

9 Feb 2015

Lundin given approval to drill Edvard Greig SE appraisal well

The Norwegian Petroleum Directorate has granted Lundin Norway AS a drilling permit for well 16/1-24, cf. Section 8 of the Resource Management Regulations. Well 16/1-24 will be drilled by the Island Innovator drilling facility at position 58°46’45.57’’ north 02°06’35.00’’ east in production licence 338 C. The drilling programme for well 16/1-24 relates to drilling of a wildcat well in production licence 338 C. Lundin is the operator with an 80 per cent ownership interest. The other licensee is OMV (Norge) AS with 20 per cent. The area in this licence consists of part of block 16/1. The well will be drilled southwest of the Edvard Grieg field in the central part of the North Sea. Production licence 338 C was split from production licence 338 and awarded on 16 December 2014. This is the first exploration well drilled in the licence area. The permit is contingent on securing other permits and consents required by other authorities before drilling activity starts.

6 Feb 2015

Lundin hits gas with Zulu well

Lundin Petroleum AB (“Lundin”), through its wholly owned subsidiary Lundin Norway AS (“Lundin Norway”), has completed the drilling of wildcat well 26/10-1. The well investigated the hydrocarbon potential of the Zulu prospect in PL674BS, which is located 100 km west of Stavanger on the Norwegian west coast and approximately 30 km northeast of the Johan Sverdrup discovery. The main objective of well 26/10-1 was to test the hydrocarbon potential in the Miocene Utsira Formation sand. The well encountered Utsira Formation sand with very good reservoir quality. The well encountered gas in an upper 24 metres sand sequence. Pressure measurements imply a gas column of 36 metres at the well. Thorough logging and sampling has been performed. Fluid data will be analysed and detailed mapping performed for resource potential evaluation. The well is being plugged and abandoned as a gas discovery. The well was drilled by the drilling rig Island Innovator to a total depth of 995 metres subsea and was terminated in sediments of presumed Oligocene age Hordaland Group. The well was drilled in a water depth of 140 metres on the Patch Bank Ridge. This well was the first exploration well in licence PL674BS, which was awarded as a part of PL674 in APA 2012 and carved out as a separate licence in 2014. Lundin Norway is operator with a 35 percent working interest. Petrolia Norway and E.ON E&P Norge are partners with 35 and 30 percent working interest respectively.

28 Jan 2015

Lundin given green light to drill Alta appraisal well

The Norwegian Petroleum Directorate has granted Lundin Norway AS a drilling permit for well 7220/11-2, cf. Section 8 of the Resource Management Regulations. Well 7220/11-2 will be drilled from the Island Innovator drilling facility in position 72°00`37.56" north and 20°26´09.12" east. The drilling programme for well 7220/11-2 relates to the drilling of an appraisal well in production licence 609. Lundin Norway AS is the operator with a 40% ownership interest, and the licensees are Idemitsu Petroleum Norge AS with 30% and RWE Dea Norge AS AS with 30%. The production licence consists of the blocks/parts of blocks 7220/6, 7220/9, 7220/11, 7220/12 and 7221/4. The production licence was awarded in the 21st licensing round in 2011. Wildcat well 7220/11-2 will be the second exploration well in production licence 609. The permit is contingent upon the operator having secured all other permits and consents required by other authorities before the drilling starts.

20 Jan 2015

'Island Innovator' spuds Zulu prospect in Norway

Petrolia Norway AS, a 100% subsidiary of Petrolia SE has announced that drilling of exploration well 26/10-1 (Zulu) in PL674BS has commenced. The well will investigate the hydrocarbon potential of the Zulu prospect in PL674BS, located 100 km west of Stavanger on the Norwegian west coast and approximately 30 km northeast of the Johan Sverdrup discovery. The main objective of well 26/10-1 is to test the reservoir properties and hydrocarbon potential of Miocene aged sandstones of the Utsira Formation in the Patch Bank Ridge. Operator Lundin Petroleum estimates the Zulu prospect to have the potential to contain unrisked, gross prospective resources of 153 million barrels of oil (MMboe). The planned total depth is 1,020 metres below mean sea level and the well will be drilled using the semisubmersible drilling unit Island Innovator. Drilling is expected to take approximately 25 days. Petrolia Norway holds 35 per cent working interest in PL674BS. Partners Lundin Norway, operator, and E.ON E&P Norge holds 35 and 30 per cent working interest respectively.

6 Jan 2015

Lundin comes up dry at Kopervik

Lundin Petroleum AB (“Lundin”), through its wholly owned subsidiary Lundin Norway AS (“Lundin Norway”), has announced the successful completion of the 2/10-12S wildcat (Kopervik) well in Norway. The well is being plugged and abandoned as a dry hole. The Kopervik prospect lay in PL625 and is approximately 20km northwest of the Johan Sverdrup discovery. The well encountered Hugin Fm sandstones with very good reservoir quality and poorer developed sands in the Draupne Fm. The upper part of the Upper Jurassic was cored and the entire pre-Cretaceous sequence pressure sampled. Oil shows were observed in cores. The well was drilled by the Island Innovator semisub to a total depth of 2,540 metres. Upon completion of the well, the rig will move to drill the Zulu prospect in PL 674BS.

6 Jan 2015

PSA approves consent for 'Island Innovator' to drill Gemini prospect

Lundin Norway AS (“Lundin”) has received consent to carry out exploration drilling of well 16/1-24. Lundin is the operator for production licence PL 338 in block 16/1 in the central North Sea. Lundin has applied for consent to drill exploration well 16/1-24 in a prospect named Gemini. Drilling is scheduled to begin in January 2015 and will last 46 days if no discovery is made. In the event of a discovery, a sidetrack will also be drilled and the well will be production-tested. Water depth at the site is 135 metres.

18 Dec 2014

Lundin set to spud Zulu prospect in Norway

Lundin has received consent to drill exploration well 26/10-1 in the North Sea. Lundin is the operator of production licence PL674, which comprises blocks 26/10 and 17/1 in the central North Sea, around 150 kilometres west of Stavanger. Exploration well 26/10-1 is intended to investigate the hydrocarbon potential of a prospect named Zulu. Water depth at the site is 170 metres. The well is to be drilled by the Island Innovator mobile drilling facility. The facility is a type GM4000, delivered by the Cosco Zhoushan Shipyard in China in 2012. Island Innovator is owned by Marine Accurate Well ASA and operated by Odfjell Drilling. It is registered in Norway and classified by DNV GL.

2 Dec 2014

Lundin to use 'Island Innovator' to spud well on PL 674 BS

The Norwegian Petroleum Directorate has granted Lundin Norway AS a drilling permit for well 26/10-1, cf. Section 8 of the Resource Management Regulations. Well 26/10-1 will be drilled from the Island Innovator drilling facility at position 59°00’01.86’’ north and 03°04’14.69’’ east in the central part of the North Sea. The drilling programme for well 26/10-1 relates to drilling of a wildcat well in production licence 674 BS. Lundin is the operator with an ownership interest of 35 per cent. The other licensees are Petrolia Norway AS with 35 per cent and E.ON E&P Norway AS with 30 per cent. The area in this licence consists of the southwestern part of block 26/10 and northwestern part of block 17/1. The well will be drilled about 32.8 kilometres northeast of the 16/2-6 discovery well on the Johan Sverdrup field and about 112 kilometres from Stavanger. Production licence 674 BS was carved out of PL 674, which was awarded on 8 February 2013 (APA 2012). This is the first well to be drilled within the licence area. The permit is contingent upon the operator securing all other permits and consents required by other authorities prior to commencing drilling activities.

28 Oct 2014

Lundin spuds Kopervik prospect in Norway

Lundin Petroleum AB (Lundin Petroleum), through its wholly owned subsidiary Lundin Norway AS (Lundin Norway), is pleased to announce that drilling of exploration well 25/10-12S in PL625 has commenced. The well will investigate the hydrocarbon potential of the Kopervik Prospect in PL625, located 175 km west of Haugesund on the Norwegian west coast and approximately 20 km northwest of the Johan Sverdrup discovery. The main objective of well 25/10-12S is to test the reservoir properties and hydrocarbon potential of the Upper and Middle Jurassic Sandstones in the Kopervik sub-basin. Lundin Petroleum estimates the Kopervik prospect to have the potential to contain unrisked, gross prospective resources of 163 million barrels of oil equivalent (MMboe). The planned total depth is 2,570 metres below mean sea level and the well will be drilled using the semisubmersible drilling unit Island Innovator. Drilling is expected to take approximately 60 days. Lundin Norway is the operator and has a 40 percent working interest in PL625. Bayerngas Norge, Maersk Oil Norge AS and Petoro AS are partners, each with 20 percent working interest.

14 Oct 2014

Lundin makes discovery with Alta well

Lundin Norway AS, operator of production licence 609, is in the process of concluding the drilling of wildcat well 7220/11-1, which proved both oil and gas. The well was drilled about 20 kilometres northeast of oil and gas discovery 7120/1-3 and about 190 kilometres northwest of Hammerfest. The well’s primary exploration target was to prove petroleum in sandstone rocks from the Middle Triassic period (Kobbe formation in the Sassendalen group) and in chalk rocks from the Permian period (Ørn formation in the Gipsdalen group). The secondary exploration target was to prove petroleum in reservoir rocks from the Carboniferous period (Falk formation in the Gipsdalen group). The well encountered a 45-metre total oil column with an overlying 10-metre gas column in carbonate rocks in the Gipsdalen group, with good reservoir properties. Preliminary estimates of the size of the discovery are between 14 and 50 million standard cubic metres (Sm3) of recoverable oil, and between 5 and 17 billion standard cubic metres of recoverable gas. Further delineation of the discovery is planned for 2015. Extensive data collection and sampling have been performed. Two successful formation tests have been carried out in the oil zone, both of which indicated good flow properties. The maximum production rate was 518 Sm3 of oil and 48 700 Sm3 of associated gas per flow day through a 36/64-inch nozzle. The gas/oil ratio is 94 Sm3/Sm3. This well is the first exploration well in production licence 609, which was awarded in the 21st licencing round in 2011. The well was drilled to a vertical depth of 2221 metres below the sea surface, and was terminated in the Ugle formation from the Late Carboniferous period. The water depth is 388 metres. The well will now be permanently plugged and abandoned. Well 7220/11-1 was drilled by the 'Island Innovator' drilling facility, which will now move to production licence 625 in the North Sea to drill wildcat well 25/10-12 S, where Lundin Norway AS is the operator.

6 Aug 2014

Lundin spuds new exploration well on Alta prospect in Barents Sea

Lundin Petroleum AB (Lundin Petroleum) through its wholly owned subsidiary Lundin Norway AS (Lundin Norway) is pleased to announce that drilling of exploration well 7220/11-1 in PL609 has commenced. The well will target the Alta prospect, which is located some 20 km northeast of the Gohta discovery in the Barents Sea. The main objective of well 7220/11-1 is to prove the presence of hydrocarbons in sandstones of Triassic age in addition to carbonates of Permo-Carboniferous age. Lundin Petroleum estimates the Alta prospect to have the potential to contain unrisked, gross prospective resources of 261 million barrels of oil equivalent (MMboe). The planned total depth is 2,393 metres below mean sea level and the well will be drilled using the drilling rig ‘Island Innovator’. Drilling is expected to take approximately 60 days. Lundin Norway holds 40 percent interest in PL609. Partners are RWE Dea Norge AS and Idemitsu Petroleum Norge AS with 30 percent each.

22 Jul 2014

NPD confirms Lundin discovery with Gohta wells

Lundin Norway AS, operator of production license 492, is in the process of completing the drilling of appraisal well 7120/1-4 S in oil discovery 7120/1-3 (Gohta). The discovery was proven in 2013 in reservoir rocks of Permian age and are drilled about 35 kilometers north of the Snøhvit field in the Barents Sea. Before the well 7120/1-4 S was drilled, the operator's resource estimate for the discovery of between 10 and 23 million Sm 3 of recoverable oil and between 8 and 15 billion Sm 3 of recoverable gas. The objective of well 7120/1-4 S was to delineate 7120/1-3. The well encountered ten feet Upper Permian limestone conglomerate with good reservoir quality over fractured limestone with limited reservoir quality. The conglomerate zone containing gas and condensate. In the dense limestone under there were traces of oil. In deep corresponded oil grooves in the appraisal of the oil zone in the discovery well 7120/1-3. There are extensive data collection and sampling. In addition, there have been two formation tests. First, an attempt was tested a 50 meter zone 23 meters below the estimated gas / oil contact, then the ten-meter-thick gas zone. During the test the oil zone were produced 170 000 Sm 3 gas / day. Pressure build-up showed that drained from a porous reservoir. This is due to lack of seal between the gas and oil zone on the outside of the casing. The test in the oil zone is therefore not definitive. The test in the ten-meter thick gas and condensate zone showed a production of 700 000 Sm 3 gas and 140 Sm 3 of oil per dagtilsvarende one GOF of 5000 m 3 / m 3 . The pressure increase shows that the production test drained from an area extending a minimum of 1,000 feet in radius from the well. DST test confirmed good production properties in limestone conglomerate. Preliminary estimates of the size of the discovery is still between 10 and 23 million Sm 3 of recoverable oil and between 8 and 15 billion Sm 3 of recoverable gas. This is the second exploration well in production license 492 (link to facts page). The license was awarded in APA 2007. The appraisal well was drilled to a vertical depth of 2490 meters below the sea surface, and was terminated in char formation in the Upper Permian. The water depth is 331.5 meters. The well will now be plugged and abandoned. The well was drilled by 'Island Innovator' who will now proceed to production license 609 in the Barents Sea to drill wildcat well 7220/11-1, also with Lundin Norway AS as operator.

24 Jun 2014

Lundin given approval to drill 7220/11-1 well in Norway

The Norwegian Petroleum Directorate has granted Lundin Norway AS a drilling permit for well 7220/11-1, cf. Section 8 of the Resource Management Regulations. Well 7220/11-1 will be drilled from the drilling facility Iceland Innovator at position 72o 03` 26.84" north and 20o 32´ 45.71" east. The drilling programme for well 7220/11-1 relates to the drilling of a wildcat well in production licence 609. Lundin Norway AS is the operator with a 40% ownership interest and the operator is Idemitsu Petroleum Norge AS with 30% and RWE Dea Norge AS with 30%. The production licence consists of the blocks/part of blocks 7220/6, 7220/9, 7220/11, 7220/12 and 7221/4. Production licence was awarded in the 21st licensing round in 2011. Wildcat well 7220/11-1 will be the first exploration well in production licence 609. The permit is contingent upon the operator having secured all other permits and consents required by other authorities before the drilling starts.

23 May 2014

Lundin spuds Gohta appraisal well

Lundin Petroleum AB (Lundin Petroleum), through its wholly owned subsidiary Lundin Norway AS (Lundin Norway), is pleased to announce that drilling of appraisal well 7120/1-4s in PL492 has commenced. The well will appraise the hydrocarbon potential of the Gohta discovery in PL 492, which is located 155 km northwest of the Norwegian coast (189 km northwest of Hammerfest) and 5.7 km northwest of the original Gohta discovery well. The main objective of well 7120/1-4s is to test the reservoir properties and hydrocarbon potential of the Permian carbonates in the Gohta karst Røye formation and the overlying Kobbe formation sandstones. The Gotha discovery well 7120/1-3 was completed in October 2013 and found a 25 metre gross gas column above a 75 metre gross oil column in karstified and dolomitized limestone. The well production tested approximately 4,300 bopd through a 44/64" choke and the preliminary evaluation of the gross recoverable oil and gas resources from the Gohta discovery is estimated at between 105 and 235 million barrels oil equivalent. The planned total depth is 2,930 metres below mean sea level and the well will be drilled using the drilling rig ‘Island Innovator’. Drilling is expected to take approximately 65 days. Lundin Norway is the operator and has a 40 percent working interest in PL 492. The partners are Det norske oljeselskap ASA with a 40 percent working interest and and Noreco Norway AS with a 20 percent working interest.

12 May 2014

Lundin completes Edvard Greig appraisal well

Lundin Petroleum AB (Lundin Petroleum), through its wholly owned subsidiary Lundin Norway AS (Lundin Norway), is pleased to announce that the appraisal drilling and testing of the well 16/1-18 on the Edvard Grieg field in the North Sea sector of the Norwegian Continental shelf has been successfully completed. The Edvard Grieg field was discovered by well 16/1-8 drilled in 2007. The appraisal well 16/1-18 was drilled 2.4 kilometres east of the Edvard Grieg production platform. The objective of the well was to appraise the reservoir properties in the south eastern part of the Edvard Grieg field in order to optimise the drainage strategy and drilling of production wells in this part of the field. The well encountered approximately 62 metres of oil bearing conglomeratic sandstone sequence dated late Upper Jurassic. The reservoir sequence was cored and an extensive logging programme was acquired. Good reservoir quality was established in the upper 43 metres and moderate reservoir quality in the lower 19 metres of the oil bearing zone. An oil down-to situation was established. A production test (DST) was carried out in a 13 metre perforation interval in the lowest part of the oil bearing zone. The test yielded over 800 barrels of oil per day through a 28/64 inch choke, demonstrating good permeability and good vertical communication across the entire 62 metres oil zone. The upper part of the reservoir with the best reservoir quality was planned to be perforated and tested in a comingled test with the lower zone, but this was cancelled due to operational issues. Nevertheless, a mini-DST in the upper oil bearing zone confirmed good quality reservoir properties. Ashley Heppenstall, President and CEO of Lundin Petroleum, commented: “The results of the Edvard Grieg appraisal well provided encouraging results in respect of the quality of the conglomeratic reservoir which is much better than seen in other wells. This provides upside in relation to the resource contribution from this reservoir where we previously assumed low recovery factors. The lack of sandstone reservoir at this location is however disappointing. At this stage I expect the impact on Edvard Grieg resources to be neutral with upside remaining from the conglomeratic reservoir.” Appraisal well 16/1-18 was drilled to a vertical depth of 2,361 metres below mean sea level (MSL) and was terminated in the Granitic basement. The well will be permanently plugged and abandoned. The water depth is 109 metres. Lundin Norway is the operator of PL338 with a 50 percent interest. The partners are OMV Norge AS with 20 percent, Statoil Petroleum AS with 15 percent interest and Wintershall Norge AS with 15 percent interest.

8 Apr 2014

Lundin receives consent to use 'Island Innovator' on the Gohta field in Norway

Lundin Norway AS (Lundin) has received consent to use the ‘Island Innovator’ semisub rig for drilling and production testing on the Gohta field. Lundin will use the ‘Island Innovator’ for drilling and production testing of wildcat well 7120/1-4 S in production licence 492 on the Gohta field. The Gohta field is in the Barents Sea, 35km north-west of the Snøhvit field. Water depth at the site is approx. 332 metres. Drilling is planned to begin in May 2014, with a duration of approx. 65 days. The ‘Island Innovator’ is a Global Maritime GM4000-WI design semi-submersible mobile drilling facility built in 2012 at Cosco (Zhoushan) Shipyard in China. The facility is owned by Maracc ASA and operated by Odfjell Drilling. Its flag state is Norway, and DNV is the classification society.

5 Mar 2014

NPD grants Lundin drilling permit for appraisal well on PL492

The Norwegian Petroleum Directorate has granted Lundin Norway AS a drilling permit for well 7120/1-4 S, cf. Section 8 of the Resource Management Regulations. Well 7120/1-4 S will be drilled by the Island Innovator drilling facility at position 71° 5´ 18.21" north and 20º 10´ 08.61" east. The drilling programme for well 7120/1-4 S relates to drilling of an appraisal well in production licence 492. Lundin Norway AS is the operator with an ownership interest of 40 per cent. The other licensees are Det norske oljeselskap ASA with 40 per cent and Noreco Norway ASA with 20 per cent. The production licence consists of parts of blocks 7120/1 and 7120/2. The production licence was awarded in APA 2007. Wildcat well 7120/1-4 S is the second exploration well in production licence 492. The permit is contingent on the operator securing all other required permits and consents required by other authorities before the drilling activity starts.

25 Feb 2014

Lundin Petroleum spuds new appraisal well on Edvard Grieg field in Norway

Lundin Petroleum AB (Lundin Petroleum), through its wholly owned subsidiary Lundin Norway AS (Lundin Norway), is pleased to announce that drilling of appraisal well 16/1-18 on the Edvard Grieg field located in the North Sea sector of the Norwegian Continental Shelf (NCS), has commenced. The well is located on PL338 in the south-eastern part of the Edvard Grieg field. The objective for the well is to confirm the geological model at this part of the field in order to optimize drainage strategy and the placement of development wells. The well will also seek to identify potential increases to current 2P reserves volume estimates. The well is located approximately 2.4 km east of the Edvard Grieg platform location. The planned total depth is approximately 2,300 metres below mean sea level and the well will be drilled using the semi-submersible drilling rig 'Island Innovator'. The drilling operation is expected to take approximately 55 days. Lundin Norway is the operator of PL338 with 50 percent interest. The partners are OMV Norge AS with 20 percent, Statoil Petroleum AS with 15 percent interest and Wintershall Norge AS with 15 percent interest.

11 Feb 2014

Lundin completes pair of dry wells northwest of Johan Sverdrup discovery

Lundin Norway AS, operator of production licence 501, has completed drilling of wildcat wells 16/2-20 S and 16/2-20 A. The wells are dry. The wells were drilled about 3.2 kilometres northwest of appraisal well 16/2-9 S on the 16/2-6 Johan Sverdrup oil discovery in the central part of the North Sea. The objective of well 16/2-20 S was to prove petroleum in Upper/Middle Jurassic reservoir rocks in a separate prospect, as well as to verify potential communication with 16/2-6 Johan Sverdrup. The well encountered an approx. 21-metre thick Lower Cretaceous/Upper Jurassic sandstone with poor reservoir quality. In Middle/Lower Jurassic, a total of ten metres of sandstone with good reservoir quality were encountered. Both reservoirs have traces of oil, but are aquiferous and have somewhat lower reservoir pressure than the 16/2-6 Johan Sverdrup oil discovery. The objective of well 16/2-20 A was to prove oil in Upper Jurassic reservoir rocks higher up and about 770 metres further west on the prospect. The well encountered an approx. 19-metre thick Lower Cretaceous/Upper Jurassic sandstone with poor reservoir quality. In Middle/Lower Jurassic, a total of approx. eight metres of sandstone were encountered with moderate reservoir quality. Extensive data acquisition and sampling have been carried out in the wells. Both wells are classified as dry. Wells 16/2-20 S and 16/2-20 A are the second and third wildcat wells drilled in production licence 501. The licence was awarded on 23 January 2009 (APA 2008). The wells were drilled to 2068 and 2028 metres vertical depth, respectively, and 2150 and 2215 metres measured depth below the sea surface, respectively. Both wells were terminated in basement rock. The wells have been permanently plugged and abandoned. Water depth is 110 metres. The wells were drilled by the Island Innovator drilling facility, which will now drill appraisal well 16/1-18 on the Edvard Grieg field in production licence 338, where Lundin Norway AS is the operator.

6 Dec 2013

Lundin secures approval from NPD to drill Kopervik Prospect with the 'Island Innovator'

The Norwegian Petroleum Directorate has granted Lundin Norway AS a drilling permit for well 25/10-12, cf. Section 8 of the Resource Management Regulations. Well 25/10-12 will be drilled from the Island Innovator drilling facility at position 59°02’36.7’’ north 02°18’13.1’’ east in production licence 625 in the central part of the North Sea. The drilling programme for well 25/10-12 relates to drilling of a wildcat well in production licence 625. Lundin Norway AS is the operator with an ownership interest of 40 per cent. The other licensees are Bayerngas Norge AS, Maersk Oil Norway AS and Petoro AS with 20 per cent each. The area in this licence consists of the southeastern part of block 25/10. The well will be drilled about 5 kilometres northeast of the oil/gas discovery 25/10-8 Hanz, which is part of the Ivar Aasen field. Production licence 625 was awarded on 3 February 2012 (APA 2011). This is the first exploration well drilled within the licence area. The permit is contingent upon the operator securing all other permits and consents required by other authorities prior to commencing drilling activities.

3 Dec 2013

Lundin secures drilling permit to drill appraisal well of the Jorvik Prospect in Norway

The Norwegian Petroleum Directorate has granted Lundin Norway AS a drilling permit for well 16/1-18, cf. Section 8 of the Resource Management Regulations. Well 16/1-18 will be drilled from the Island Innovator drilling facility at position 58°50’28.11’’ north and 02°17’21.97’’ east in production licence 338. The drilling programme for well 16/1-18 relates to drilling of an appraisal well in production licence 338. Lundin is the operator with an ownership interest of 50 per cent. The other licensees are OMV (Norge) AS with 20 per cent, Statoil Petroleum AS and Wintershall Norge As with 15 per cent each. The area in this licence consists of parts of block 16/1. The well will be drilled southeast on the Edvard Grieg field in the central part of the North Sea. Production licence 338 was awarded on 17 December 2004 (APA 2004). This is the ninth exploration well to be drilled within the licence area. The permit is contingent upon the operator securing all other permits and consents required by other authorities prior to commencing drilling activities.

21 Nov 2013

Island Innovator set to drill 16/2-20 A well for Lundin Norway AS

The Norwegian Petroleum Directorate (NPD) has issued Lundin Norway AS a drilling permit for well 16/2-20 A, cf. Section 8 of the Resource Management Regulations. Well 16/2-20 A will be drilled from the Island Innovator drilling facility at position 58°56’30.84’’ north and 02°25’18.62’’ east in production licence 501. The drilling programme for well 16/2-20 A relates to the drilling of a wildcat well in production licence 501. Lundin is the operator with a 40 per cent ownership interest. The other licensees are Statoil Petroleum AS with 40 per cent and Maersk Oil Norway AS with 20 per cent. The area in this licence comprises parts of blocks 16/2, 3, 5 and 6. The well will be drilled about 0.5 kilometres to the southwest of 16/2-20 S and around 3.2 kilometres north of well 16/2-9 S on Johan Sverdrup in the central part of the North Sea. Production licence 501 was awarded on 23 January 2009 (APA 2008). This is the 19th exploration well to be drilled within the area of the licence. The permit is contingent upon the operator securing all other permits and consents required by other authorities before the drilling activity commences.

30 Sep 2013

LUNDIN PETROLEUM SPUDS THE TORVASTAD EXPLORATION WELL, OFFSHORE NORWAY

Lundin Petroleum AB (Lundin Petroleum), through its wholly owned subsidiary Lundin Norway AS (Lundin Norway), is pleased to announce that drilling of exploration well 16/2-20S on PL501 immediately north of the Johan Sverdrup discovery located in the North Sea sector of the Norwegian Continental Shelf (NCS), has commenced. The well is exploring the area north of the well-established Johan Sverdrup discovery. Well 16/2-20S is located approximately 7 kilometres north-west of the successful well 16/2-12 confirming oil-filled Jurassic reservoir in the northern part of the Johan Sverdrup discovery (Geitungen) and 3.3 kilometres downdip and north of well 16/2-9S which found a thin reservoir sequence of lesser quality compared to well 16/2-12. Well 16/2-9S is located close to a basement high. Well 16/2-20S investigates the presence, quality and depth of potential Jurassic reservoir sequences north of the Johan Sverdrup discovery. The well is also expected to provide information of any hydrocarbon-system in this area and possible communication with the Johan Sverdrup discovery. The main uncertainty in this area relates to the depth of potential reservoir level, reservoir thickness, as well as the oil water contact. The planned total depth is approximately 2,075 metres below mean sea level and the well will be drilled using the semi-submersible drilling rig Island Innovator. The drilling operation is expected to take approximately 55 days. Lundin Petroleum is the operator of PL501 with 40 percent interest. The partners are Statoil Petroleum AS with 40 percent interest and Maersk Oil Norway with 20 percent interest.

27 Aug 2013

'Island Innovator' receives Acknowledgement of Compliance to operate in Norway

Odfjell Drilling, the manager of the 'Island Innovator' semisub has announced that the unit has received its Acknowledgement of Compliance (AOC) to operate in Norway from the Norwegian Petroleum Authority. The issuing of the AOC, means that the unit is considered to be in compliance with regulatory requirements to drill for oil and gas in offshore Norway. The ‘Island Innovator’ is contracted to Lundin Norway AS to possibly drill up to 24 wells in total, with 12 firm wells and options to drill a further 12 additional wells.

14 May 2013

Lundin Norway AS ready to drill new wildcat near Johan Sverdrup discovery

The Norwegian Petroleum Directorate has granted Lundin Norway AS a drilling permit for well 16/2-20, cf. Section 8 of the Resource Management Regulations. Well 16/2-20 will be drilled from the Island Innovator drilling facility at position 58°56’25.80’’ north and 02°25’34.09’’ east in production licence 501. The drilling programme for well 16/2-20 relates to drilling of a wildcat well in production licence 501. Lundin is the operator with an ownership interest of 40 per cent. The other licensees are Statoil Petroleum AS with 40 per cent and Maersk Oil Norway AS with 20 per cent. The area in this licence consists of parts of blocks 16/2, 3, 5 and 6. The well will be drilled about 3.2 kilometres north of well 16/2-9 S on Johan Sverdrup in the central part of the North Sea. Production licence 501 was awarded on 23 January 2009 (APA 2008). This is the fourteenth well to be drilled within the licence area. The permit is contingent upon the operator securing all other permits and consents required by other authorities before the drilling activity starts.

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