Lundin Expects to Produce up to 38,000 boepd in 2013

Sweden's Lundin Petroleum said Monday that it expects to produce between 33,000 and 38,000 barrels of oil equivalent (boepd) per day during 2013.

Releasing an update on its 2P reserves, Lundin CEO Ashley Heppenstall said that the firm expects to exit 2013 with a production rate of 40,000 boepd after its Brynhild field, offshore Norway, comes on stream later this year.

Lundin's 2P reserves are now 201.5 million barrels of oil equivalent, which is down from the 210.7 million barrels reported for the end of 2011. The firm said its 2P reserves have been positively affected by its Bertam field, offshore Malaysia, which has been added to the figure. Further increases resulted from Lundin's main producing assets – the Alvheim and Volund fields, offshore Norway – as well as the Brynhild field.

However, Lundin pointed out that these additions were offset by reserves reductions predominantly on the Gaupe gas/condensate field offshore Norway and producing assets in the Komi Republic in northern Russia.


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