courtesy Caspian Services

Lundin Petroleum and partner Gazprom have said their Lagansky-1 has “no impact” on the potential for success at the large offshore Petrovskaya prospect they intend to drill in the New Year.

The northern Caspian Sea Laganskaya 1 well, which showed some oil but was likely a "low hydrocarbon saturation zone probably associated with a small up-dip structure”. Petrovskaya, on the other hand, is said to potentially hold 300 million barrels, or about the size of Eni’s Goliat field off northern Norway.

No hydrocarbons were found at Laganskaya in the more telling deep Jurassic sandstone. Laganskaya is just southwest of the recent Morskaya discovery, which itself is up-dip of Laganskaya.

At hand is the Marine Drilling Complex which is resting at its Astrakhan base for winter maintenance.

Lundin holds 70 percent interest in the Lagansky block, site of Petrovskaya. Gazprom has a call option to acquire a 50 percent plus one share in the block. Lundin Petroleum can opt for 30 percent from minority shareholders.

Tags: Gazprom, Lundin Petroleum