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Kategori: About Lundin Norway

A modern-day oil fairy-tale in the North Sea

Before 2007, almost everyone had written off the Utsira High in the Norwegian North Sea, considering it un-prospective after 40 years of failed exploration. Today, however this is the most important area for new activity on the Shelf. New exploration prospects are being matured, exploration wells are being drilled, two fields have started production and two more are under development. In-depth knowledge about the subsurface is the foundation for all this activity.

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Lundin Petroleum announces increased reserves and contingent resources

Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that as at 31 December 2018, its proved plus probable net reserves (2P reserves) are 745 million barrels of oil equivalent (MMboe), its proved plus probable plus possible net reserves (3P reserves) are 901 MMboe and its best estimate net contingent resources (contingent resources) are 225 MMboe. The 2P reserves replacement ratio is 163 percent for 2018 and this is the fifth consecutive year that Lundin Petroleum has more than replaced production.

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