Lundin Petroleum is in the process of completing the drilling of their exploration well at Juksa, 10 kilometer northwest of the Snøhvit field in the Norwegian sector of the Barents Sea.
Preliminary analysis of a cored section of the reservoir indicates thin oil bearing sands, the company says in an announcement.
No reservoir was found to be present at the nearby Snurrevad target drilled in the same prospect.
The drilling done with the Transocean Arctic rig was going down to a depth of nearly 3,000 meters below sea level in a part of the Barents Sea with a depth of 330 meters.