Lundin Petroleum produced 13.1 MMboe during 2012 at an average rate of 35,700 boepd. In early 2012 production for 2012 was forecasted to between 32,000 and 38,000 boepd and for the fourth consecutive year Lundin Petroleum produced within the guided range.
Production forecast 2013
Lundin Petroleum’s production forecast for 2013 is in the range of 33,000 to 38,000 boepd, at similar levels to 2012. Good production is expected from the Alvheim and Volund fields following the completion of one new Alvheim well at the end of 2012 and the start-up of one newly drilled Volund well in early 2013. Production for the third quarter of 2013 will be negatively impacted by a maintenance shutdown on the Alvheim FPSO. The Brynhild field is expected to come onstream in the fourth quarter of 2013. The project is currently on schedule and is expected to increase our net production to 40,000 boepd by the end of the year.
The giant oil field Johan Sverdrup, with first oil planned in 2018, has the potential to quadruple the current net production when Johan Sverdrup reaches plateau production. This excludes any contribution from the rest of the contingent resource base, or any contribution from the 10 to 15 exploration wells Lundin Petroleum is planning to drill each year.