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Lundin Petroleum chairman Ian H. Lundin. Image courtesy of Nordnet Sverige/Youtube.

Lundin Petroleum completed the drilling of wildcat well 33/2-1 Tuesday in offshore Norway license PL555 through its wholly owned subsidiary Lundin Norway.

The well investigated the hydrocarbon potential of the Storm prospect, located 124 miles northwest of Florø on the Norwegian west coast and 40 miles northwest of the Snorre field.

The main objective of well 33/2-1 was to test the reservoir properties and hydrocarbon potential of the upper Jurassic Sandstones equivalent to the reservoir in the Magnus field on the UK Continental Shelf located 21 miles to the south.

The well encountered hydrocarbons in Cretaceous and Jurassic reservoir sequences but “not in commercial quantities,” Sweden-based Lundin said.

3/2-1 was drilled to total depth of 14,543 feet below mean sea level using the drilling rig Transocean Arctic.

It will be plugged and abandoned.

Lundin Norway is the operator of the well and has a 60 percent working interest in PL555.

Norway-based Bayerngas holds a 30 percent working interest in the license and Norway-based Fortis Petroleum holds a 10 percent working interest.