Lundin Petroleum has announced that Russia's Federal Service for Supervising Natural Resources has issued the drilling permit for drilling the Morskaya-1 exploration well in the Lagansky block. Lundin Petroleum has currently a 70% net interest in the Lagansky block.
In October 2007, the Federal Subsoil Use Agency (Rosnedra) issued a licence amendment for the drilling of two wells in 2008 and two wells in 2009 and the acquisition of 300sqkm of 3D seismic on the Lagansky block.
Lundin Petroleum plans to start mobilizing and installing the marine drilling complex in April 2008. Drilling will commence on the Morskaya-1 exploration well after final acceptance offshore of the commissioned installation by the relevant inspection authorities. The complex, designed by two of Russia’s leading design institutes, operates on a zero discharge basis, the company said.
The gross unrisked prospective resource for Morskaya prospect within the Lagansky block is estimated to 640 million of barrels of oil equivalents.