Lundin has this month embarked on a high impact drilling campaign, using the brand new drilling rig West Bollsta. The first prospect that is currently being targeted by well 7221/4-1, which spudded on the 10th of October in PL 609, is named after the village of Polmak in the East Finnmark region. Polmak is thought to contain up to 400 million barrels of unrisked prospective resources.
Following the recent acquisition of a portfolio of Barents Sea interests from Idemitsu (subject to required approvals), Lundin now operates the 609 licence at a 47.5% stake; with partners Wintershall and Idemitsu at 30% and 22.5% respectively.
Located on the Loppa High, the Polmak well is about 8 km to the east of the 7220/6-2 Neiden discovery made in 2016, also by Lundin. This well encountered a total oil column of about 20 meters with an overlying gas column of about 10 meters in carbonate rocks of the Permo-Carboniferous Ørn Formation, with good to moderate reservoir properties.
In the Triassic Snadd Formation, the well encountered a water-bearing sandstone with moderate to good reservoir properties. Estimates of the size of the discovery were between 3 and 7 million cubic meters of recoverable oil and between 1 and 2 billion cubic meters of recoverable gas (59 million barrels of oil equivalent at most).
Broadly speaking, the Loppa High dips to the southeast, so if the target reservoir of the Polmak well is similar to the Permo-Carboniferous carbonates of the Neiden discovery, it would be expected that it is being found at a slightly deeper level. Yet, with the top Ørn Formation being found at just over 1000 m depth in Neiden, the target of Polmak is still likely to be fairly shallow. In other words, the first results of this well can probably be expected soon.
After completing Polmak, Lundin will subsequently drill the Bask and Spissa prospects further to the southwest.
Hear about Lundin’s exploration strategy from Per Øyvind Seljebotn, Exploration and Reservoir Development Director at Lundin Energy Norway, on the November 18 and 19.