Lundin Norway received consent from the Petroleum Safety Authority of Norway (PSA) for exploration drilling at the Gemini prospect in the Central North Sea.
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The Island Innovator. From Island Drilling. |
Lundin will drill in its operated license PL 338 at well 16/1-24, located in Block 16/1.
The PSA says drilling is scheduled to begin this month and will last for a duration of 46 days. In the event of a discovery, a sidetrack well will also be drilled and be production tested.
The well is at 135m water depth and will be drilled using the Island Innovator semisubmersible vessel.
Lundin operates the PL338 with 50% interest along with partners OMV (20%), Wintershall (15%) and Statoil (15%).
Earlier this week Lundin announced its US$145 billion 2015 development, appraisal and exploration budget, which represents a 31% decease compared to its 2014 spending forecast. The company’s exploration spending is decreasing by 27% to approximately $320 million.
Budget news came just after Lundin announced its exploration well 25/10-12S on the Kopervik prospect was being plugged and abandoned as a dry hole. The well, located in PL 625, is 175km west of Haugesund on the Norwegian west coast and 20km northeast of the Johan Sverdrup. It was also drilled using the Island Innovator.
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