Exploration & appraisal
When we find what we’re looking for – that makes us a little bit better.
When we don’t find it – that makes us a little bit wiser.
Lundin Energy is built on organic growth through exploration and over the past five years, this commitment has been reinforced by increasing the portfolio from 50 to ~90 exploration licences and the number of core areas from three to seven.
Lundin Energy has since its inception strived to maintain world class subsurface expertise that provides access to cutting-edge technology and drives organic value creation. This has been manifested within the field of geophysical imaging and seismic acquisition technology where we are established as a front-runner on the Norwegian Continental Shelf.
2021 exploration and appraisal programme
The 2021 exploration programme involves seven wells out of which one has been drilled, yielding a small oil discovery. The remaining six wells are targeting ~300 MMboe of net unrisked prospective resources.
2021 exploration and appraisal well programme
|Licence||Operator||Lundin Interest||Well||Spud date||Status|
|PL359||Lundin Energy||65%||Segment D||February 2021||Oil discovery|
|PL820S||MOL||41%||Iving||Second Quarter 2021|
|PL167 ¹||Lundin Energy||40%||Lille Prinsen||Third Quarter 2021|
|PL981||Lundin Energy||60%||Merckx||Fourth Quarter 2021|
|PL976||Lundin Energy||50%||Dovregubben||Fourth Quarter 2021|
|PL1041 ²||AkerBP||15%||Lyderhorn||Fourth Quarter 2021|
¹ Lundin Energy’s working interest in Licence PL167 will increase from 20% to 40% and operatorship will be transferred to Lundin Energy on closing of the transaction Equinor agreed in December 2020
² Lundin Energy’s working interest in Licence PL1041 will reduce from 30% to 15% on closing of the AkerBP transaction agreed in February 2021