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.
Successful emergency response drill on the Edvard Grieg field
Lundin Norway conducted recently an emergency response drill at the Edvard Grieg field for a scenario involving an offshore helicopter accident. A wide range of resources and organisations worked together to coordinate the rescue simulation.
Recommends electric boiler on the Edvard Grieg platform
Lundin Norway’s recommendation to the other licensees in the Edvard Grieg field is to cover all heat and power needed to operate the platform by electricity from shore when the area-wide solution for power from shore for fields on the Utsira High in the North Sea is in place by 2022.
Sustainable growth based on a long-term strategy
Through the downturn in the industry, Lundin Norway has continued to invest in its employee base. More than 30 percent of the current workforce has in fact been recruited in the period after oil prices started to fall in 2014. This has been made possible by our long-term strategy to secure sustainable growth.