Lundin Gets Go-Ahead to Develop Gaupe Field

BG Norge received approval from the Norwegian Ministry of Petroleum and Energy for the development and operation of the Gaupe field (formerly Pi) in PL 292. Production is expected to commence in late 2011. The development plan for the field entails drilling two wells, then connecting them to the Armada platform. The hydrocarbons will be transported to the Armada platform for processing before further transportation to the mainland. Gaupe is estimated to hold 28 million barrels of oil equivalents with net peak production of about 5,000 boepd. BG Norge serves as the operator, holding a 60% working interest; Lundin holds the remaining 40%.

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