Lundin Norway AS, a subsidiary of Lundin Petroleum AB, announced that it has completed an appraisal well on the Edvard Grieg Oil Field in the North Sea.
Specifically, the company has finished building its Southwest 16/1-27 appraisal well that is located on the southwestern flank of the oil field drilled three kilometers west of the Edvard Grieg platform. Its objective was to appraise the area to prove additional resources and optimize drainage strategy.
During construction, the oil well ran into a 15-meter gross oil column in a 94-meter thick sandstone reservoir, which is different to the pre-drill estimate of 38 meters of thickness. Also the top reservoir was discovered to be deeper than the initial predictions with better reservoir quality, while the oil water contact was found 1,948 meters below mean sea level, which is 9 meters deeper than the established contact in this area of the oil field.
Also, data was acquired using various processes, including fluid sampling and conventional coring. By doing so, the company confirmed a preliminary resource upside for the area in the order of 10 to 30 million barrels of oil equivalents (MMBOE). The final implication for total reserves the oil field has is stated to be announced by the end of this year.
Lundin Norway operates and holds a 65% working interest of the PL338, the area where the appraisal well is built. The other companies holding shares of the reserve are OMV Norge AS and Wintershall Norge AS, with 20% and 15% interests respectively.