Technology finds oil

The recent discovery of oil in the Alta prospect in the Barents Sea fully demonstrates the value of utilizing all data and taking advantage of modern technology.

As in Gohta, we have reason to believe that hydrocarbon shows in a nearby well led the Lundin explorers to test the Alta prospect one more time (GEO 07/2013; “Gamle ideer – ny teknologi”). We got the result two days ago: Up to 300MMbbls recoverable oil were found.

The clue was Norsk Hydro’s well 7120/2-1from 1985 that had good shows in Permian carbonates.

Lundin got its reward for not compromising on analysing data. Additionally, it is well known that Lundin always look for the best data. The company also takes advantage of recent developments in technology.

Says exploration director Hans Chr. Rønnevik (GEO 07/2014): “We don’t want to be trapped in “best practice”, we want better practice, we don’t want to be no. 2”.

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Technology driven exploration is the focus in the next half-day seminar in the series Hydrocarbon Habitats in Oslo October 21 and in Stavanger November 5.