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Consent to carry out exploration drilling with Bredford Dolphin in block 16/5

Lundin Norway AS (Lundin) has received consent to carry out exploration drilling in the North Sea with the Bredford Dolphin mobile facility.

The consent relates to drilling of exploration well 16/5-2 which is part of production licence 501 with Lundin as the operator (40%). The other licensees are Statoil Petroleum AS (40%) and Maersk Oil Norway AS (20%).

Depending on the result, a production test and drilling of a sidetrack may take place.

The well is located about 170 kilometres west of Stavanger, and has the following geographical coordinates:

N 58º 44' 43.55'', E: 02º 37' 58.2”. Water depth at the site is 136 metres.

The expected start-up of drilling is in November 2011. The activity has an estimated duration between 39 and 79 days, depending on any discoveries.

The exploration drilling will be carried out with the semi-submersible drilling facility Bredford Dolphin, owned by Fred Olsen ASA and operated by Dolphin AS.

The facility was built in 1976 and received an Acknowledgement of Compliance (AoC) from the PSA in June 2007.

Inger Anda, Director for communication and public affairs
Email: inger.anda@ptil.no | +47 970 54 064