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Operations
Norway    

Norway is the principal area of operation for Lundin Petroleum. With estimated gross resources between 1.8 and 2.9 billion barrels of oil, the giant Johan Sverdrup discovery is the largest find on the NCS since the mid-eighties.



Norway is Lundin Petroleum’s principal area of operations with reserves of 146.6 MMboe, representing 76 percent of its total reserves and 73 percent of the group’s production.

A New Giant in Norway
In September 2010 an exploration well on the Avaldsnes prospect in PL501 (WI 40%), located 25 km east of the Edvard Grieg field, resulted in a giant oil discovery. A further large discovery was made on the same structure in the neighbouring PL265 (WI 10%) on the Aldous Major South prospect.

In early 2012 the Avaldsnes/Aldous discovery was renamed Johan Sverdrup. Following an extensiveappraisal drilling programme, the Johan Sverdrup structure is estimated to contain between 1.8 – 2.9 billion boe of gross recoverable resources making it the largest discovery on the NCS since the mid-eighties. During 2013/2014 a further nine appraisal wells were drilled taking the total number of wells to 22. The field is now fully appraised.

A coordinated development of the Johan Sverdrup field is being planned with production start targeted for late 2019. This work will be performed by Statoil on behalf of the three licences PL265, PL501 and PL502, in close cooperation with all the partners in the three licence groups. A field development concept has been selected and PDO approval is planned for Q2 2015. First oil production is targeted by the end of 2019.

Production
Average production from the Norwegian assets in 2013 amounted to 23,900 boepd.

The Alvheim produced on average 10,500 boepd net to Lundin Petroleum during 2013. Gross ultimate recoverable reserves increased to 307 MMboe. There is further potential in the greater Alvheim area from existing discoveries and from exploration.

The Volund field is located to the south of Alvheim and is a sub-sea tieback to the Alvheim FPSO. The field came on stream in 2010 and achieved average net production of 12,200 boepd during 2013.

Development
The Edvard Grieg prospect in licence PL338 was successfully drilled as an oil discovery in late 2007. After appraisal drilling, gross 2P reserves were certified at 95 MMboe and later increased to 186 MMboe. A plan for development and operation (PDO) for the Edvard Grieg field was given final approval in June 2012. The gross capital cost of the Edvard Grieg field development is estimated at USD 4 billion and includes platform, pipelines and 15 wells. All major contracts have been awarded and construction is ongoing. First production is expected in the fourth quarter of 2015.

The Brynhild field (PL148) PDO received approval in November 2011. The development of Brynhild will be a four well subsea tie-back to the Pierce FPSO located in the United Kingdom. First oil is forecast in late third quarter of 2014.

A further subsea tie-back project on the Bøyla field in PL340 has been approved with production planned to commence in the first quarter of 2015. The field will be tied-back to the Alvheim FPSO.

Lundin Petroleum's net 2P reserves from these three development assets is 117.0 MMboe as at end 2013.

For further information on these development projects visit the Development pages of this website.

Exploration
Two significant discoveries were made in 2013 on the Luno II prospect located in the Utsira High Area and the Gohta prospect located in the Barents Sea. Both discoveries will be appraised during 2014.

Lundin Petroleum has an active ongoing exploration/appraisal programme in Norway. A total of 12 wells are scheduled to be drilled in 2014.

Norway licences


Licence Licence Type Lundin Interest Operator Partner
Greater Alvheim Area (GAA)
 Alvheim  (PL203,036c,088BS) Production
Exploration
15% Det norske  Det norske 65%, Norske ConocoPhilips 20%
 Volund (PL150) Production
Exploration
35% Det norske  Det norske 65%
 PL088 (Peik) Exploration 50% Centrica  Centrica 50%
 PL150b Exploration 35% Det norske  Det norske 65%
 PL203b Exploration 15% Det norske  Det norske 65%,  Norske ConocoPhilips 20%
 PL340 (Bøyla) Development 15% Det norske  Det norske 65%,  Core Energy 20%
 PL340BS (Caterpillar) Exploration 15% Det norske  Det norske 65%, Core Energy 20%
 PL546 Exploration 50% Lundin Petroleum  Bayerngas Norge 40%, Petrolia Norway AS 10%
 PL736S Exploration 15% Det norske  Det norske 65%, Norske ConocoPhilips 20%
Utsira High Area (UHA)

Ivar Aasen Unit

(PL001b, PL242, PL338BS,
PL452)
Development 1.385% Det Norske Statoil ASA 41,473%, Det Norske 34,7862,
Bayerngas 12,31725%, Wintershall 6,4615%,
VNG 3,023%, OMV 0,554%
 PL167 & PL167b Exploration 20% Statoil ASA  Statoil ASA 80%
 PL265
 (Johan Sverdrup)
Development
Exploration
10% Statoil ASA  Statoil ASA 40%, Petoro 30%,
 Det Norske Oljeselskap 20%
 PL338
 (Edvard Grieg, Apollo)
Development
Exploration
50% Lundin Petroleum  OMV 20%, Wintershall 15%, Statoil ASA 15%
 PL338 BS
Exploration
50% Lundin Petroleum  OMV 20%, Wintershall 15%, Statoil ASA 15%
 PL359 (Luno II) Exploration 50% Lundin Petroleum  OMV 20%, Statoil ASA 15%, Wintershall 15% ¹
 PL410 Exploration 70% Lundin Petroleum   Statoil ASA 15%, OMV 15%
 PL501
 (Johan Sverdrup)
Development
Exploration
40% Lundin Petroleum  Statoil ASA 40%, Maersk Oil 20%
 PL501b Exploration 40% Lundin Petroleum  Statoil ASA 40%, Maersk Oil 20%
 PL544 Exploration 40% Lundin Petroleum  Bayerngas Norge 30%, Explora Petroleum 30%
 PL625 Exploration 40% Lundin Petroleum  Bayerngas Norge 20%,  Maersk Oil 20%,
 Petoro 20%
 PL673 Exploration 60% VN Norge  VNG Norge 40%
 PL674 ¹ Exploration 15% E.ON  E.ON 50%, Petrolia Norway 35%
 PL674BS ¹ Exploration 35% E.ON  Petrolia Norway 35%, E.ON 30%
Barents Sea Area
 PL438 Exploration 25% Lundin Petroleum  RWE-Dea 20%, Petoro 20%, Tullow Oil 17.5%,
 Det norske 10%, Explora Petroleum 7.5%
 PL490 Exploration 50% Lundin Petroleum  Noreco 20%, Tullow Oil 30%
 PL492 (Gohta) Exploration 40% Lundin Petroleum  Det Norske Oljeselskap 40%,
 Noreco 20%
 PL533 Exploration 20% ENI  ENI 40%, RWE Dea 20%,
 Det Norske Oljeselskap 20%
 PL609 Exploration 40% Lundin Petroleum  RWE Dea Norge AS 30%,
 Idemitsu Petroleum Norge AS 30%
 PL609b Exploration 40% Lundin Petroleum  RWE Dea Norge AS 30%,
 Idemitsu Petroleum Norge AS 30%
 PL659 Exploration 20% Det Norske  Petoro 30%, Det norske 20%, Tullow Oil 15%,
 Atlantic Petroleum 10%, Rocksource Exploration 5%
 PL695 Exploration 40% Lundin Petroleum  Tullow Oil 40%, Petoro 20%
 PL708 Exploration 40% Lundin Petroleum  Edison 20%, Lukoil 20%, North Energy 10%,
 Lime Petroleum 10%
 PL764 Exploration 40% Lundin Petroleum  Maersk Oil 40%, Bayerngas 20%
 PL765 Exploration 20% Satoil  Statoil 40%, Maersk Oil 20%,   Bayerngas 20%
 PL766 Exploration 40% Lundin Petroleum  Maersk Oil 40%, Bayerngas 20%
 PL767 Exploration 60% Lundin Petroleum  Bayerngas 40%
North Sea Area
 Gaupe (PL292) Production 40% BG Group  BG Group 60%
 PL006c (SE Tor) Exploration 75% Lundin Petroleum  Noreco 15%, Faroe Petroleum 10%
 PL148 (Brynhild) Development 90% Lundin Petroleum  Talisman 10%
 PL148b Development 90% Lundin Petroleum  Talisman 10%
 PL292b Exploration 40% BG Group  BG Group 60%
 PL631 Exploration 60% Lundin Petroleum  Bayerngas Norge 30%,
 Fortis Petroleum 10%
 PL641 Exploration 30% VNG Norge  VNG Norge 70%
 PL678S Exploration 20% Wintershall  Wintershall 35%, Det Norske 25%,
 Fortis Petroleum 20%
 PL678BS Exploration 20% Wintershall  Wintershall 35%, Det Norske 25%,
 Fortis Petroleum 20%
 PL685 Exploration 20% Total  Total 40%, Bayerngas Norge 20%, Petoro 20%
 PL734 Exploration 30% Wintershall  Wintershall 40%, Centrica 30%
 PL741 Exploration 20% Shell  Shell 30%, VNG 20%, Petoro 30%
Møre Basin Area
 PL519 Exploration 40% Lundin Petroleum  Noreco 20%,  Tullow Oil 20%, Bayerngas Norge 10%,
 Fortis Petroleum 10%
 PL555 Exploration 60% Lundin Petroleum  Bayerngas Norge 30%, Fortis Petroleum 10%
 PL579 Exploration 50% Lundin Petroleum  Bayerngas Norge 30%, Fortis Petroleum 20%
 PL639 Exploration 20% Tullow Oil  Tullow Oil 30%, Petoro 20%,
 Bayerngas Norge 15%, Noreco 15%
Norwegian Sea Area
 PL583 Exploration 20% Tullow Oil  Tullow Oil 30%, Svenska Petroleum Exp 25%,
 Bayerngas Norge 25%
 PL584 Exploration 60% Lundin Petroleum  Bayerngas Norge 40%
 PL646 Exploration 20% Wintershall  Wintershall 40%, PGNiG Norway 20%, Noreco 20%
 PL653 Exploration 30% RWE Dea Norge  RWE Dea 40%, Det norske 30%
 PL694 Exploration 20% RWE Dea Norge  RWE Dea 40%, Det norske 20%,  Petoro 20%
 PL700 Exploration 40% Lundin Petroleum  Bayerngas Norge 20%, GDF Suez 20%, VNG Norge 20%
¹ Subject to Norwegian government approval

 

 
   

FRANCE


» 19 licences
  - 14 production
  -  5 exploration
» Net reserves 22.5 MMboe

NORWAY


» 61 licences
  - 5 production
  - 8 development
  - 48 exploration
» Net reserves 146.6 MMboe

NETHERLANDS


» 21 licences
  -  18 production
  -  3 exploration
» Net reserves 3.4 MMboe

RUSSIA


» 1 exploration licence
 

INDONESIA


» 6 licences
  -  1 production
  -  5 exploration
» Net reserves 1.9 MMboe

MALAYSIA


» 7 exploration licences
» Net reserves 13.7 MMboe