Lundin Norway is acquiring an unprecedented volume of environmental data from the seabed in connection with exploration drilling in the Barents Sea. The information that has been collected indicates that there is no negative impact on the ecosystems from the drilling activity.
200 million years ago, the area where the Edvard Grieg field is located today was a barren desert landscape. Several major floods carried enormous volumes of mass down the hillsides and created an alluvial fan deposit in the valley. The result of the flood destruction became a good conglomerate oil reservoir.
The Norwegian Petroleum Directorate (NPD) presented the 2018 Resource Report this week. It shows that there still are plenty of resources to explore for on the Norwegian shelf. And the exploration is profitable.
Lundin's production set to double with Johan Sverdrup
Lundin Norway will double current production levels thanks to the Johan Sverdrup development. “This field alone will lay the foundation for our strong production growth for the coming years,” says Managing Director Kristin Færøvik.
Testing a new reservoir type in the southern Barents Sea
Lundin Norway has started drilling operations for an extended well test on the Alta discovery in the southern Barents Sea - testing a completely new type of oil reservoir on the Norwegian shelf, consisting of karstified carbonates. A successful outcome will provide important information to progress field development planning and could significantly increase the resource potential in the Barents Sea.
Rocks formed from desert dunes could become some of the best oil reservoirs. Edvard Grieg is the only field on the Norwegian shelf where large parts of the reservoir consist of this type of sandstone. Now we have discovered even more of this type of reservoir in Luno II.
Oil deposits in granitic basement rock on the Norwegian shelf have not been considered commercial due to the density of the rock. Lundin Norway hopes to disprove this notion on Rolvsnes in the North Sea.
Edvard Grieg generates significant socio-economic benefits for Norway
Operation of the Edvard Grieg field in the North Sea is expected to provide around 800 jobs annually, according to estimates prepared for Lundin Norway by Menon Economics. This illustrates that the field will yield significant socio-economic benefits far beyond the revenues from actual petroleum production.
Lundin Norway and TechnipFMC will collaborate in an effort aimed at making more development projects on the Norwegian shelf profitable. The plan calls for better utilisation of the expertise in both companies to identify the smartest solutions.