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.
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.
Lundin Norway is among the companies with lowest production costs on the Norwegian shelf. No other company had lower costs per barrel produced in 2017. So far this year, we have improved our own record by more than 17%.
Rosenberg WorleyParsons to handle modification work on the Edvard Grieg platform
Lundin Norway and its licence partners in PL338 are awarding Stavanger based Rosenberg WorleyParsons contract for modification work on the Edvard Grieg platform in the North Sea. The contract will give important ripple effects locally and regionally, and provide work for 150 people.
Real-time production data to be shared between Edvard Grieg and Ivar Aasen
The trend has been for operating companies on the Norwegian Shelf to share a minimal amount of data. Until now. Lundin Norway and AkerBP will be sharing real-time production data from the Edvard Grieg and Ivar Aasen platforms between the companies. This will generate positive effects for both.
Successful appraisal well and extended production test on Alta
Lundin Norway, operator of production licence 609, and its partners have just completed a successful appraisal well and production test on the Alta discovery on the Loppa High in the southern Barents Sea.
Successful well test on Rolvsnes opens up a larger potential
Lundin Norway has conducted a successful well test over a ten-day period on Rolvsnes in the North Sea. The test confirms a completely new exploration concept on the shelf, and shows that we can produce oil and gas from fractured and weathered basement rocks.