Major oil discovery in the Barents Sea

Lundin Norway AS has discovered oil and gas in the Filicudi prospect in the southern part of the Barents Sea. It may be larger than the Johan Castberg discovery.

The discovery was made in well 7219/12-1, drilled by Lundin Norway. According to a press release from the company, it is at present drilling well 7219/12-1A in the same prospect, PL533.

The wells are located about 40 km southwest of Johan Castberg, and approximately 30 km northwest of the Alta and Gohta discoveries on the Loppa High in the southern Barents Sea. The discovery is estimated at between 35 and 100 million barrels of oil equivalents, however, according to the company there is a ‘significant upside that requires further appraisal drilling’. Lundin believes the resource potential of this license may be up to 700 million barrels of oil equivalents. Johan Castberg, by comparison, holds approximately 500 million barrels.

High quality

The Leiv Eiriksson rig has conducted the drilling, hitting a high-quality column of 129 meters, with 63 meters oil and the remainder gas. Extensive data acquisitions has been carried out and samples taken for further analysis. The sidetrack well has confirmed the reservoir and the hydrocarbon column. Further investigations will now be conducted and further appraisal drilling will take place.

Several other prospects have been identified on the Filicudi trend on the same license, PL533, which are estimated at a total resource potential of up to 700 million barrels.

Aker BP and Lundin now consider drilling up to two extra prospects this year, Hufsa and Hurri, estimated at 285 and 218 million barrels respectively. With the Filicudi success they have reduced the risk when drilling these wells.

Lundin Norway is operator on the PL533 license. Lundin Norway and partner Aker BP each have a 35 percent ownership share, with DEA Norway AS holding the remaining 30 percent.