News post

Exploration well 7130/4-1 Ørnen in PL708 in the Barents Sea completed

  • Main     reservoir target found to have oil with water as the mobile phase
  • Deep     reservoir target found with thin gas zone

Lime Petroleum Norway AS ("LimeNorway") has participated in the drilling of exploration well 7130/4-1 onthe Ørnen (Eagle) prospect in Barents Sea licence PL708. Operator Lundin NorwayAS ("Lundin") started drilling the well on 22 November 2015, usingthe semi-submersible rig Transocean Arctic in a water depth of 288 metres andlocated in an accessible area only some 84 km from the coast. The well hasreached total depth at 3160 metres below sea surface and is in the process ofbeing plugged.

The main target of the Ørnen well was aspecial type of Late Permian aged silica rich reservoir, proven in nearby wellsincluding well 7128/4-1 Seiland discovery in PL707 where Lime Norway also participates.The reservoir target was found hydrocarbon bearing with a total thickness ofalmost 40 metres as demonstrated by wireline logs consistent with the pre-drillprognosis based on the liquid hydrocarbon indicator Rex Virtual Drilling.However, the reservoir quality was poorer than expected having a complex poresystem, and sampling showed water to be the mobile phase. Uneven distributionof porosity and permeability in the reservoir had been identified as the maingeo-technical risk for the Ørnen prospect.

The secondary target, Permo-Carboniferouscarbonates, was encountered with minor hydrocarbon shows and poor reservoircharacteristics.

Subsequently, the well was deepened into thethird target, Lower Carboniferous sandstones encountering moderate to goodquality sands with a gas column of 5 metres.

Extensive data acquisition and sampling wascarried out including conventional coring and fluid sampling which will beanalysed to determine the further prospectivity of the licence.

Exploration well 7130/4-1 is the first to bedrilled in PL 708, which is held by operator Lundin at 40 per cent, Lime Norwayat 10 per cent, Lukoil Overseas North Shelf AS at 20 per cent, Edison Norge ASat 20 per cent and North Energy ASA at 10 per cent.

Lime Norway has further aparticipating interest of 20 per cent in the nearby licence PL707 (10 per centsubject to authority approval) and 20 per cent in each of the licences PL769and PL770.