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Lundin Petroleum oil and gas exploration summary

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30 September 2019

Lundin Petroleum oil and gas exploration summary

Report summary

Lundin Petroleum is an independent Swedish oil and gas E&P company focused entirely on exploration and development in Norway. Exploration remains central to long-term growth, with the company targeting 10 exploration and appraisal wells per year. The discovery of the giant Norwegian Sea Johan Sverdrup field in 2010 was transformational and built on the success of the 2007 Edvard Grieg discovery. Both were made on the Utsira High as Lundin applied fresh thinking on this new sub-play. The company is also active in the emerging West Barents Sea basin, where it made the play-opening Gohta (2013) and Alta (2014) discoveries. Lundin’s exploration will remain flexible as it attempts to do more with less. It will focus on six areas: the south-eastern trend and the Loppa High in the Barents, the Frøya High in the Norwegian Sea, the Alvheim and Utsira High areas in the North Sea and the Mandal High in the Central Graben. Opportunities range from high-value tie-back prospects to play-openers.

Table of contents

  • Upstream strategy
  • Exploration outlook
  • Evolution of exploration strategy
  • Well data
  • Transformational Johan Sverdrup
  • Exploration performance dominated by Norway
  • Exceptional underlying reserve replacement

Tables and charts

This report includes 20 images and tables including:

  • Net active exploration acreage by water depth
  • Net active exploration acreage by country
  • Exploration & appraisal spend and reinvestment
  • Exploration & appraisal spend by water depth
  • Exploration & appraisal spend by basin maturity
  • Discovery costs by water depth
  • Gross exploration & appraisal wells by basin and sector
  • Exploration wells drilled and spend per well
  • Exploration success rates
  • Top 40 discoveries (2009 to 2018)
  • Volumes discovered by year
  • Volumes discovered by water depth
  • Volumes discovered by country
  • Volumes discovered by basin
  • Production from new field discoveries
  • Full-cycle economics
  • Full cycle value creation by year
  • Exploration returns by year
  • Costs and development value by resource category
  • Returns by water depth

What's included

This report contains:

  • Document

    Lundin Petroleum.xls

    XLS 627.50 KB

  • Document

    Lundin Petroleum oil and gas exploration summary

    PDF 951.69 KB

  • Document

    Lundin Petroleum oil and gas exploration summary

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