Lundin Petroleum AB announces that exploration well Dordives 1-D in the Ferrieres exploration license, onshore France, has spudded.
The well is located in the south of the Paris Basin.
The exploration well, with a planned depth of 1,750 meters, is targeting the Jurassic reservoir, a well known and proven reservoir in the area. The Ferrieres prospect has unrisked gross prospective recoverable resources of 14 million barrels of oil (mmbo). The drilling activity is scheduled to take approximately 30 days.
Lundin Petroleum has sigend a farm-out agreement with SPPE (Société Pétrolière de Production et d'Exploitation), a private French independent oil company. Lundin Petroleum will transfer 35 percent interest in the license to SPPE and will retain the remaining 65 percent interest and operatorship. The agreement is subject to governmental approval.