Lundin Petroleum has announced a summary of the following positive updates regarding the Johan Sverdrup project that were announced by Statoil this morning:
| Previous Guidance | Statoil Revised Guidance | |
| Phase I capital expenditure (nominal) | NOK 108.5 billion | NOK 99 billion |
| Phase I & II capital expenditure (real) | NOK 160 to 190 billion | NOK 140 to 170 billion |
| Phase I production capacity | 440,000 bopd | 440,000 bopd* |
| Phase I & II production capacity | 550,000 to 650,000 bopd | 660,000 bopd |
| Resource range | 1.65 to 3.0 billion boe | 1.9 to 3.0 billion boe** |
*In line with Lundin Petroleum’s latest guidance; ** No change in Lundin Petroleum 2P reserves of 513.2 MMboe to be evaluated as per the Company’s year-end reserves certification process
Alex Schneiter, CEO and President of Lundin Petroleum comments:
“It has been my long held view that this world class project will continue to show improvements from a resource, cost and value perspective as time progresses. I am particularly pleased to see tangible evidence of this from Statoil’s latest announcement”.
Lundin Norway holds a 22.6 percent working interest in the Johan Sverdrup project. Statoil is the operator with 40.0267 percent and the remaining partners are Maersk Oil with 8.44 percent, Petoro with 17.36 percent and Det norske oljeselskap with 11.5733 percent working interest.
