Development - Lundin Petroleum

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Development

Operations

Reserves and resources

Lundin Petroleum has a number of developments in the pipeline which will increase annual production with an estimated 100% production increase by 2015

Development Projects

Current discoveries to be developed.

Click on the projects below for development highlights.

NORWAY

» Gaupe

» Brynhild

» Bøyla

» Luno

FRANCE

» Grandville

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FRANCE

» 20 licences
- 14 production
- 6 exploration
» Net reserves 24.7 MMboe

IRELAND

» 1 exploration licence

NORWAY

» 56 licences
- 4 production
- 2 development
- 50 exploration
» Net reserves 162.2 MMboe

NETHERLANDS

» 21 licences
- 18 production
- 3 exploration
» Net reserves 3.6 MMboe

RUSSIA

» 3 licences
- 2 production
- 1 exploration
» Net reserves 16.0 MMboe

TUNISIA

» 2 licences
- 1 production
- 1 development
» Net reserves 0.3 MMboe

CONGO (Brazzaville)

» 2 exploration licences

INDONESIA

» 7 licences
- 1 production
- 6 exploration
» Net reserves 3.9 MMboe

MALAYSIA

» 5 exploration licences

DEVELOPMENT PROJECT SUMMARY		GAUPE DEVELOPMENT
		Country: Norway Licence: PL292 Operator: BG Group 60% Partners: Lundin Petroleum 40% Net reserves 12.5 MMboe Forecast net production 5,000 boepd Project sanction date PDO approved by the Norwegian Ministry of Petroleum and Energy in June 2010 First oil End 2011 Development description Subsea tie-back to Armada (BG operated) in UK

DEVELOPMENT PROJECT SUMMARY		BRYNHILD DEVELOPMENT
		Country: Norway Licence: PL148 Operator: Lundin Petroleum 70% Partners: Talisman 30% Net reserves 10.2 MMboe Forecast net production 8,400 boepd Project sanction date PDO approved November 2011 First oil 2013 Development description Subsea tie-back to Shell's Pierce field in the UK.

DEVELOPMENT PROJECT SUMMARY		BØYLA DEVELOPMENT
		Country: Norway Licence: PL340 Operator: Marathon 65% Partners: Lundin Petroleum 15%, Norske ConocoPhillips AS 20% Net resources 3 - 4.5 MMboe Project sanction date PDO submission in 2012 First oil 2014 Development description Subsea tie-back to Alvheim. Caterpillar likely to be included in the Bøyla development.

DEVELOPMENT PROJECT SUMMARY		LUNO DEVELOPMENT
		Country: Norway Licence: PL338 Operator: Lundin Petroleum 50% Partners: Wintershall 30%, RWE Dea Norge AS 20% Net reserves 93.0 MMboe Forecast net production 30,000+ boepd Project sanction date PDO submitted in January 2012 First oil 2015 Development description Conceptual development studies ongoing. The Tellus discovery will be developed as part of the Luno development plan.

DEVELOPMENT PROJECT SUMMARY		GRANDVILLE DEVELOPMENT
		Country: France Licence: Grandville, Paris Basin Operator: Lundin Petroleum 100% Net resources 5 MMboe of which 2 MMboe is currently on production. The infill drilling programme is estimated to increase 2P reserves in the field by 3 MMboe. Forecast net production Current production of 300 boepd. Once the incremental investment in Grandville is completed the total field’s production is forecast to increase to a plateau rate of 600 boepd in 2013. Project start date 3Q 2011 First oil Incremental production from the infill drilling programme is estimated to commence in Q1 2012. Development description 8 well infill drilling programme has commenced.