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Lundin Petroleum Provides Update on Russian Exploration Drilling

Source: www.gulfoilandgas.com 10/17/2007, Location: Asia

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Lundin Petroleum announces that the commencement of drilling of the Morskaya #1 well in the Lagansky Block located in the northern Caspian, offshore Russia will take place in 2008. Lundin Petroleum has been working closely with JSC Gazprom ("Gazprom") since the signing of an option agreement whereby Gazprom can acquire an effective 50 percent plus one share interest in the Lagansky Block exploration licence. Good progress has been made in obtaining amendments to the Lagansky Block licence commitments from Russia's licensing agency, Rosnedra and to receiving the final drilling permit approvals. However due to the onset of the winter season in the northern Caspian, the Morskaya #1 well will commence in the second quarter of 2008. At least one further exploration well will be drilled on the Lagansky Block in 2008.

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Related Articles: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 


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