LUNDIN PETROLEUM’S STATEMENT ON CLIMATE CHANGE

Lundin Petroleum is committed to explore for and produce oil and gas in an economically, socially and environmentally responsible way. While seeking to meet the ever increasing demand for energy, it is also aware of the rising concern regarding the potential impact of such activities on people and planet.

In the context of climate change, while the debate among expert scientists and government entities is ongoing, the company is taking steps to assess and reduce its greenhouse gas emissions.

In countries which are subject to the Emissions Trading Scheme set up by the Kyoto Protocol to the United Nations Convention on Climate Change (UNFCC) such as the United Kingdom, Lundin Petroleum has, since its inception, consistently emitted less than its CO2 allowances. In other countries where the company acts as operator, such as Norway and Russia, it has selected state of the art technology to meet its zero-discharge commitment.

Lundin Petroleum’s approach when carrying out its operations is to use economically and environmentally efficient means, where available. Thus, Lundin Petroleum’s new office facilities rely almost exclusively on renewable geothermal energy.

Lundin Petroleum considers that only concerted action, not only on the part of energy producers, but consumers as well, will be able to achieve a notable change in current emission patterns.