Lundin Petroleum to Double Production in Two Years

Lundin Petroleum AB announces that the yearly Capital Market Day is being held in Oslo, Norway today, 29 January 2014, for analysts and institutional investors.

Ashley Heppenstall, President and CEO of Lundin Petroleum says: “Lundin Petroleum remains firmly committed to creating value through exploration. In 2014 we will target over 600 million barrels net to Lundin Petroleum of exploration potential with a particular focus on Norway and South East Asia.

“We have already today reserves and contingent resources in excess of one billion barrels of oil equivalent and our reserve position will increase by over three fold on submission of the Johan Sverdrup development plan. I am confident that our 2014 appraisal and exploration drilling programmes will result in further increases to our reserve and resource base.

“In the next two years Lundin Petroleum will more than double its production to over 75,000 boepd with the start of the production from the Brynhild, Bøyla, Bertam and Edvard Grieg fields.”

January 29, 2014

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