PL409 is located east of the Sleipner East Field in Block 16/7 in the North Sea.
The company said that the drilling of well 16/7-9 is expected to take approximately 40 days.
The well will target the Jurassic/Triassic age sandstones in a four way dip structural closure that is estimated to contain gross unrisked prospective resources of 27 million barrels of oil equivalent.
The planned total depth is approximately 2700m below mean sea level, and the well will be drilled using the semi-submersible drilling rig Transocean Winner.
Lundin Petroleum is the operator of PL409 with 70% interest, and its partners in the license are Bayerngas Norge (20%) and Statoil (10%).
