Lundin Petroleum has made a significant oil discovery in the central North Sea sector of the Norwegian Continental Shelf (NCS).
Exploration well 16 / 2-6 of the Avaldsnes prospect has proved a 17m oil column of excellent quality Jurassic sandstone.
The well, drilled to a total depth of 2,132m, is located in block 16 / 2, part of production licence PL501 in the NCS.
Lundin said production tests confirmed excellent reservoir characteristics, with the well flowing at a restricted production rate of about 5,000 barrels of oil per day.
The Avaldsnes discovery is expected to contain recoverable resources of 100 million to 400 million barrels of oil equivalent within the PL501 licence.
The company said additional wells will be drilled in 2011.
Lundin Petroleum’s Norwegian unit has a 40% operating interest in the project. Other partners include Statoil Petroleum (40%) and Maersk Oil Norway (20%).