Norwegian Explorer Sees Growth Prospects Off Norway

The Norwegian Petroleum Directorate (NPD) has granted Lundin Norway a drilling permit for well 16/4-10 on the Fosen prospect in the prospective Utsira High area of the Norwegian North Sea, at a moment when the Swedish company is trying to increase its assets off Norway.

"The area in this licence consists of part of block 16/4," a statement published by NPD on Monday says. "The well will be drilled southwest of the 16/4-6 S oil discovery (Luno II) in the central part of the North Sea.

It continued, "Production licence 544 was awarded on 19 February 2010 (APA 2009). This is the second exploration well to be drilled within the licence area."

Lundin is the operator with an ownership interest of 40%. The other licensees are Bayerngas Norge AS and Lime Petroleum Norway AS, each with a 30% stake.

Also on Monday, Lundin Petroleum announced that first oil from the Edvard Grieg field in the Norwegian North Sea was achieved on 28 November 2015.

“First oil from Edvard Grieg is a very proud moment for us all. The project execution capabilities proven by this delivery, coupled with the ingenuity of our exploration team, provide a hugely exciting platform for further growth in Norway,” Kristin Færøvik, Managing Director of Lundin Norway, commented in a press release.