Lundin Petroleum Raises Size Of Norway’s Rolvsnes Oil Discovery

The Rolvsnes oil and gas discovery in Norway’s North Sea is almost five times as large as initially thought, Swedish operator Lundin Petroleum said on Aug. 27 after completing an appraisal well.

Lundin has increased its resource estimates to between 14 million and 78 million barrels of oil equivalents (MMboe) from a previous interval of 3 MMboe to 16 MMboe, the company added.

The company now plans to perform a longer production test, likely in 2020-2021, before deciding whether to develop the discovery, it added.