Lundin Petroleum said on Tuesday that it has made a multi-million barrel discovery in the Barents Sea.
Lundin’s wholly owned subsidiary Lundin Norway completed the Neiden exploration well 7220/6-2R as an oil and gas discovery.
The well is located in PL609 that is situated about 30 miles northeast of the Alta discovery on the Loppa High in the southern Barents Sea.
The main objectives of the well were to prove oil in Triassic sandstone and Permian carbonate reservoirs.
The well encountered a gross 101 foot (31 metres) hydrocarbon column, with 13 feet of oil and just over 6 feet of gas in the Permian target.
The total gross resource estimate for the Neiden discovery is between 25 and 60 million barrels of oil equivalents.
Lundin said that extensive data acquisition and sampling was carried out including coring, logging and light oil and gas sampled from the wireline tools.
Lundin said the well demonstrates “high quality karstified carbonate reservoir” that “reduces the risk” of the Børselv prospect.
The Børselv prospect is located 10 miles north and up dip from the Neiden discovery in PL609.
Lundin said that the Børselv prospect is a candidate for drilling in 2017.
The semisubmersible drilling rig Leiv Eiriksson will now move to the Filicudi prospect in PL533 located northwest of the Alta discovery and south of the Statoil operated Johan Castberg discovery.
Lundin said it expects the Filicudi prospect to contain “Jurassic sandstone reservoir analogous to the Johan Castberg discovery.”
The Filicudi prospect is estimated to contain gross unrisked prospective resources of 258 million barrels of oil equivalents.
Lundin Norway is the operator of both PL609 and PL533 and holds a 40 percent interest in PL609 and a 35 percent working interest in PL533.