Premier strikes Norwegian oil

British oil explorer Premier Oil has completed a successful well test in the Norwegian North Sea. The well achieved an average flow rate of 2,044 bopd and Premier estimates it could produce 75 to 130m barrels of oil. Further appraisal work is planned with joint venture partners Lundin Petroleum and Statoil. “We are delighted that this successful test result has confirmed Luno II as a significant discovery,” said CEO Simon Lockett.