Lundin Energy’s subsidiary, Lundin Energy Norway has secured drilling permit from the Norwegian Petroleum Directorate (NPD) for well 16/4-12 in production licence 981.

Planned to be drilled from the West Bollsta drilling facility, the well 16/4-12 will be drilled about 1km west of the 16/4-6 S Solveig oil discovery.

The West Bollsta drilling facility is due to complete Aker BP’s wildcat well 7219/11-1 in production licence 533 B.

Lundin Energy Norway operates production licence 981 with 60% stake

Lundin Energy Norway operates the production licence 981 with 60% stake while Aker BP owns the remaining 40% stake. The area in this licence also comprises the northern part of block 16/4.

In a press statement, NPD said: “Production licence 981 was awarded on 1 March 2019 (APA2018). This is the first exploration well to be drilled in this licence.

“The permit is contingent on the operator securing all other permits and consents required by other authorities before drilling activity starts.”

Earlier this month, Lundin Energy Norway has agreed to acquire interests in a portfolio of licences in the Barents Sea from Idemitsu Petroleum Norge AS (IPN).

As per the terms of the agreement, the company will acquire a 10% of working interest in the Wisting oil discovery as well as increase its ownership in Alta oil discovery by buying an additional 15% working interest.

The deal is expected to add estimated net contingent resources of approximately 70 million barrels of oil equivalent (MMboe) to Lundin Energy.

Expected to be one of the next Barents Sea production hubs, the Wisting oil discovery is estimated to have gross resources of 500 million barrels of oil (MMbo).