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Lundin Petroleum To Start Oil, Gas Search In Barents Sea

Published: 07-Aug-2009

By: Staff Writer Staff Writer Staff Writer

Lundin Petroleum AB (Lundin Petroleum) will start its hunt for oil and gas in Norwegian parts of the Barents Sea in 2010, Barents Observer reported. The project will cost around NOK1 billion. Lundin Petroleum has already gathered seismic data for the three licenses it holds in the Barents Sea. It aims to drill two wells before plans for further activity are prepared. A well in the Barents Sea is expected to cost between NOK400 and NOK500 million.

Lundin Petroleum is planning to use Polar Pioneer semi-submersible in the exploration program. The wells are situated north-west of StatoilHydro ASA’s gas field Snøhvit, thus making it possible to link any gas find to the existing LNG plant on Melkøya outside Hammerfest in Northern Norway.

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