Lundin Norway, a wholly owned subsidiary of Lundin Petroleum, has discovered oil at the Luno II discovery in the Norwegian North Sea after completing the appraisal well 16/4-11 in PL359 on the Utsira High.
Located around 2.5km south of the original Luno II discovery well, the appraisal well encountered a gross oil column of 22m in Triassic sandstone and is the fifth well on the discovery.
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The company undertook the appraisal well in order to prove additional resources in the Luno II discovery to progress to development.
According to Lundin Petroleum, the entire reservoir comprises sandstones with some conglomeratic sandstone intervals having an aggregate thickness of about 400m.
The data acquisition and sampling conducted in the reservoir includes conventional coring and fluid sampling.
As a result of the successful appraisal programme, the company has reported an increase in the previous gross resource range for the Luno II discovery of 30 million barrels of oil equivalent (mmboe) to 80mmboe to between 40mmboe and 100mmboe.
The company is planning to proceed with development studies for Luno II, with a plan for development and operations (PDO) set to be submitted towards the end of this year.
The development will be tied back to the nearby Edvard Grieg platform.
Lundin Norway operates PL359 with a 50% working interest.
Other stakeholders in the licence include OMV with 20%, and Statoil and Wintershall with 15% each.
