Sweden-based Lundin Petroleum, through its wholly owned subsidiary Lundin Norway, spudded exploration well 16/1-24 Monday in offshore Norway.
The well is located in production license 338C about six miles southwest of the Edvard Grieg field.
Well 16/1-24 will investigate the hydrocarbon potential of the Gemini prospect.
The main objective of well 16/1-24 is to test the reservoir properties and hydrocarbon potential of Lower Paleocene aged sandstones in the Ty Formation.
Lundin estimates the Gemini prospect holds potential unrisked, gross prospective resources of 93 million barrels of oil equivalent.
The well’s planned total depth is 7,191 feet below mean sea level and it will be drilled by the semi-submersible Island Innovator drilling rig .
The drilling operation is expected to take 40 days.
Lundin Petroleum is the operator of PL338C with an 80 percent working interest.
OMV Norge, a subsidiary of Austria-based OMV Group, holds a 20 percent working interest.