Thursday 19 January 2017

Lundin Petroleum AB (Lundin Petroleum) is pleased to announce its 2017 development, appraisal and exploration budget which totals USD 1.3 billion. Lundin Petroleum is also pleased to announce that as at 31 December 2016 its proved plus probable working interest reserves (reserves) are 743.5 million barrels of oil equivalents (MMboe) and its best estimate contingent resources (contingent resources) are 267 MMboe.

Reserves and contingent resources Lundin Petroleum’s reserves as at 31 December 2016 are 743.5 MMboe1,2 and reflect a positive reserves revision of 55.3 MMboe, excluding acquired reserves. The average production in 2016 was 72,600 barrels of oil equivalent per day, in line with the mid-point of the 2016 revised production guidance.

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