Lundin Finds Norwegian Oil

Lundin Norway – a subsidiary of Swedish independent oil and gas company Lundin Petroleum – has made a “significant” oil discovery in Norway.

Exploration well 16/1-8 was drilled to a vertical depth of 2,175m using the Bredford Dolphin rig, where an estimated 65 to 190 million barrels of oil has been discovered.

Initial analysis shows the field will have the commercial potential to be a "a significant development on the Norwegian Continental shelf," increasing the company’s production by over a third, says Lundin.

By Ahsanul Islam