Lundin Petroleum AB Company News

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Seadrill Rig Order Goes to Semco
Friday, January 24, 2020 This photo shows the Seadrill-operated West Bollsta harsh-environment rig, which will mobilize on the Norwegian Continental Shelf. PHOTO SOURCE: Semco Maritime.

TechnipFMC Wins North Sea Contract
Wednesday, January 30, 2019 The latest Lundin Norway contract builds upon FEED work that TechnipFMC has already performed.

Equinor, Partners to Develop Next Phase of Johan Sverdrup
Monday, August 27, 2018 Equinor and partners submit the development plan for the second phase of the Johan Sverdrup project.

Lundin Petroleum Raises Size Of Norway's Rolvsnes Oil Discovery
Monday, August 27, 2018 The Rolvsnes oil and gas discovery in Norway's North Sea is almost five times as large as initially thought.

Output At Lundin's Grieg Field Back To Normal After Forties Outage
Wednesday, December 27, 2017 Production at Lundin Petroleum's Edvard Grieg oil and gas field off the coast of Norway is back at normal levels.

Sharp Fall In Applications For Norway's Arctic Oil Permits
Tuesday, December 05, 2017 Norway's attractiveness as an oil region took a hit when energy authorities said 11 oil firms applied for stakes in exploration blocks in its latest oil licensing round

Lundin Board Proposes Malaysia, France, Netherlands Asset Spin Off
Monday, February 13, 2017 Lundin Petroleum's board of directors proposes to spin-off its assets in Malaysia, France and the Netherlands into a newly formed company called International Petroleum Corporation (IPC).

Swedish Oil Firm Lundin Sees Output More Than Doubling Next Decade
Wednesday, February 01, 2017 Swedish oil firm Lundin's output will more than double before the middle of the next decade after development of Norway's giant Johan Sverdrup oilfield is complete.

Lundin's Development Expenditure to Top $1B in 2017
Thursday, January 19, 2017 Lundin's development expenditure in 2017 will total $1.095 billion.

Oil Industry Teams Up to Fight Cyber-Crime
Thursday, September 29, 2016 DNV GL is collaborating with a number of oil and gas companies to develop an industry best practice for addressing the cybercrime threat.

Lundin Terminates Sale of FPSO Bertam to Malaysia's M3nergy Subsidiary
Thursday, August 04, 2016 Lundin Petroleum terminates the proposed sale of FPSO Bertam to a subsidiary of Malaysia's M3nergy Berhad after the latter failed to secure the necessary financing within the given timeline.

Lundin's Profitability Affected by FX Loss, Financing Fees
Wednesday, July 20, 2016 Sweden's Lundin Petroleum says profitability during the second quarter will be adversely affected by a net foreign exchange loss of $64 million and financing fees of $22 million.

Lundin Completes Edvard Grieg Acquisition
Friday, July 01, 2016 Lundin Petroleum AB completes the acquisition of an additional 15% interest in the Edvard Grieg field, PL338 and interests in associated pipeline assets, from Statoil Petroleum AS.

NPD Grants Lundin Drilling Permit for Lundin Norway
Thursday, June 09, 2016 The Norwegian Petroleum Directorate grants Lundin Norway AS a drilling permit for well 7220/11-3 AR, located offshore Norway in production license 609.

Rosenberg Secures Fabrication Contract for Johan Sverdrup
Friday, June 03, 2016 Rosenberg WorleyParsons AS secures a contract for the fabrication of three bridges and two flare towers for the Johan Sverdrup project.

Lundin Receives Edvard Grieg Acquisition Approval from Energy Ministry
Wednesday, June 01, 2016 The Norwegian Ministry of Petroleum and Energy grants Lundin Norway approval to acquire an additional 15% interest in the Edvard Grieg field, and interests in associated pipeline assets, from Statoil.

Lundin Petroleum Q1 Beats Forecast, Raises Sverdrup Capacity Estimate
Wednesday, May 11, 2016 Lundin Petroleum raises output estimates for the first phase of the giant Johan Sverdrup field as it beats 1Q core earnings expectations.

Lundin Petroleum Reveals Pre-Tax Exploration Costs for 1Q 2016
Friday, April 22, 2016 Lundin will incur pre-tax exploration costs of approximately $71 million in the first quarter of 2016, according to the company's latest financial update.

Sweden's Lundin Set for Busy Year Offshore Norway
Thursday, April 07, 2016 During a visit to meet Norway's "Subsea Valley" industry, Rigzone hears the managing director of Lundin Petroleum's Norwegian operation detail the firms plans for 2016 on the Norwegian Continental Shelf.

Royal Boskalis Awarded Johan Sverdrup Services Contract
Friday, April 01, 2016 Royal Boskalis Westminster N.V. secures a contract by Samsung Heavy Industries for the transportation of topside modules for the Johan Sverdrup project, offshore Norway.

Crude At $40 Isn't The Only Problem Facing Norway's Oil Industry
Wednesday, March 30, 2016 In addition to the collapse of crude prices, explorers in western Europe's biggest oil-producing nation have also had their leanest drilling spell in almost a decade.

Lundin Secures Further Financing
Monday, March 21, 2016 Lundin Petroleum AB enters into a committed short term revolving credit facility of $300 million and receives additional commitments of $135 million under a reserve-based lending facility accordion.

Lundin Finds Gas at Maligan Prospect Offshore East Malaysia
Thursday, March 03, 2016 Lundin Malaysia completes the Maligan exploration well in Block SB307/308 offshore East Malaysia after finding significant gas shows.

Samudra Timur Secures Inspection Services Deal from Lundin Malaysia
Tuesday, February 16, 2016 Kerjuruteraan Samudra Timur Berhad's subsidiary Samudra Timur secures a contract to provide inspection services to Lundin Malaysia.

Aker to Deliver Johan Sverdrup Concept Study
Wednesday, February 10, 2016 Aker Solutions will work on a concept study for a new processing platform for future phases of the Statoil-operated Johan Sverdrup North Sea field.

Lundin Doubles Year-End Losses in 2015
Wednesday, February 03, 2016 Lundin posts a loss of $866.3 million in 2015, which was more than double the $431.9 million loss registered by the company in 2014.

Lundin Farms Out Stakes in 3 PSCs Offshore Malaysia to DYAS
Tuesday, February 02, 2016 Lundin Petroleum farms out stakes in three production sharing contracts offshore Malaysia to subsidiaries of Dutch-based DYAS.

Lundin Spuds Maligan Prospect in Block SB307/SB308 Off East Malaysia
Friday, January 29, 2016 Lundin spuds the Maligan prospect in Block SB307/SB308 offshore East Malaysia using the jackup West Prospero.

Lundin Reduces CAPEX by 26%, Increases Reserves by 292%
Friday, January 29, 2016 Lundin Petroleum reduces its capital expenditure to $1.08 billion in in 2016 and increases its reserve to 685 million barrels of oil equivalents.

Lundin Finds Oil Offshore Malaysia, Spuds North Sea Well
Monday, January 25, 2016 Lundin discovers oil offshore Malaysia and spuds another well in the North Sea.

Lundin Sells FPSO Bertam to Malaysia's M3nergy for $265M
Friday, January 22, 2016 Sweden's Lundin Petroleum signs deal to sell FPSO Bertam, currently operating in Block PM307 offshore Peninsular Malaysia, to M3nergy for $265 million.

Lundin Hits Dry Well in Norwegian Sea
Wednesday, January 20, 2016 Lundin Petroleum comes up dry on exploration well 6407/10-4, located on the Lorry prospect in the southern Norwegian Sea.

Statoil Acquires Minority Stake in Lundin
Thursday, January 14, 2016 Statoil acquires minority stake in Lundin Petroleum for a total price of approximately SEK 4.6 billion ($539 million).

North Sea: Indies, Juniors Driving Exploration, Development in 2016
Tuesday, January 12, 2016 Rigzone takes a look at the 2016 exploration and field development plans of junior and independent oil and gas firms focused on the North Sea region.

Lundin Spuds Bambazon Prospect in Block SB307/308 Offshore East Malaysia
Friday, January 08, 2016 Lundin Petroleum spuds the Bambazobn exploration well in Block SB307/308 offshore East Malaysia after completing drilling operations at Imbok-1 prospect in the same block.

Lundin's Ornen Well Turns Out Dry
Wednesday, December 30, 2015 Lundin Petroleum completes the Ornen exploration well in the southern Barents Sea but it turns out to be dry.

Lundin Discovers Oil at Well 16/1-25 S in Central North Sea
Tuesday, December 22, 2015 Lundin Norway AS discovers oil at exploration well 16/1-25 S, located in PL338C in the central North Sea sector of the Norwegian Continental Shelf.

Lundin Spuds Imbok-1 Exploration Well Offshore Malaysia
Monday, December 07, 2015 Lundin spuds the Imbok-1 exploration well, located in Blocks SB307 and SB308, offshore East Malaysia.

Edvard Grieg Field Begins Production
Monday, November 30, 2015 The Edvard Grieg oil field, located in the Norwegian North Sea, begins production.

NPD Grants Lundin Drilling Permit for Well 16/4-10
Monday, November 30, 2015 The Norwegian Petroleum Directorate grants Lundin Norway AS a drilling permit for well 16/4-10, located in production license 544 offshore Norway.

Lundin Drills Dry Well in Block PM308A Offshore Malaysia
Thursday, November 26, 2015 Lundin Petroleum completes the Selada-1 prospect in Block PM308A offshore Malaysia as a dry well.

Lundin Spuds Ornen Prospect Well in Barents Sea
Tuesday, November 24, 2015 Lundin Norway AS commences the drilling of exploration well 7130/4-1, located on the Ornen prospect in the southern Barents Sea.

Lundin Spuds Lorry Prospect Well Offshore Norway
Friday, November 13, 2015 Lundin Norway AS spuds exploration well 6407/10-4, located on the Lorry prospect in PL700 offshore Norway.

Lundin Spuds Selada-1 Prospect in Block PM308A Offshore Malaysia
Monday, November 09, 2015 Lundin Petroleum spuds Selada-1 prospect in Block PM308A offshore Malaysia with the West Prospero jackup.

Lundin Halts Neiden Prospect Drilling Due to Winter Restrictions
Thursday, November 05, 2015 Lundin Norway AS temporarily suspends drilling operations on exploration well 7220/6-2, on the Neiden prospect in PL609, due to winter restrictions on the use of the Island Innovator rig.

Lundin to Continue to Reduce Costs and Improve Efficiency
Wednesday, November 04, 2015 Lundin Petroleum will continue to improve its operational and capital efficiency and work to reduce its costs for the foreseeable future, according to Lundin's president and CEO, Alex Schneiter.

Lundin Discovers Gas Offshore Malaysia
Monday, October 26, 2015 Lundin makes a small gas discovery at the Mengkuang-1 exploration well in license PM307 offshore Malaysia.

Dry Well Hits Lundin's 3Q 2015 Profitability
Wednesday, October 21, 2015 A well targeting the Zeppelin prospect on Norwegian turning out dry leads to Lundin Petroleum incurring $10 million of exploration costs during the third quarter.

Lundin Spuds Well on Rolvsnes Prospect
Friday, October 16, 2015 Lundin Norway AS spuds exploration well 16/1-25 S on the Rolvsnes prospect, in PL338C, offshore Norway.

Aibel Secures Johan Sverdrup Power Supply Contract
Thursday, October 15, 2015 Aibel secures a contract for the construction of a converter station at Haugsneset and required construction site work for land-based power supply to the Johan Sverdrup field.