Lundin Energy Reports First oil from Rolvsnes field

The Rolvsnes field is located in PL338C on the southern side of the Edvard Grieg field and is a weathered and fractured granite basement reservoir. During 2018, the successful drilling and testing of a horizontal appraisal well (16/1-28) was completed, which flowed 7,000 bopd, demonstrating good reservoir productivity. The appraisal well has been converted to a development well and tied back the 3 km distance to the Edvard Grieg platform, with the project being completed on schedule and on the budget cost estimate. The resource estimate for the Rolvsnes field is between 14 and 78 million barrels of oil equivalent (MMboe) gross.

The objective of the EWT is to gain a better understanding of the reservoir properties, reservoir connectivity and long term production performance of the field and if successful, this test has the potential to unlock a full field development for Rolvsnes, further extending the plateau production period for Edvard Grieg. Once sufficient data and production experience has been gathered, a Plan for Development and Operation (PDO) could be submitted by the end of 2022, benefitting from the temporary tax regime in Norway. A successful test could also derisk significant additional resource potential in weathered and fractured granite basement reservoirs on the Utsira High.

Lundin Energy Norway AS, a wholly owned subsidiary of Lundin Energy, is the operator of PL338C with an 80 percent working interest, with the remaining interest held by OMV (Norge) AS.

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