BG Turns On Taps at Gaupe Field

Lundin Petroleum AB announced that the Gaupe field, located in the Southern North Sea, offshore Norway, commenced production on March 31, 2012.

The Gaupe field is located in PL292 and is adjacent to the Norway - United Kingdom (UK) border, some 140 miles (225 kilometers) from the Norwegian mainland. The Gaupe field has estimated gross recoverable reserves of approximately 31 million barrels of oil equivalent (boe) and expected net peak production of 6,000 barrels of oil equivalents per day (boepd).

The Gaupe field is a cross-border subsea tie-back to the Armada production facilities, located in the UK central North Sea.

"First production from the Gaupe field is another milestone for Lundin Petroleum. The production from Gaupe will contribute to the doubling of production to 70,000 boepd in late 2015," said President and CEO of Lundin Petroleum Ashley Heppenstall.

Lundin Norway AS has a 40 percent working interest and BG Norge AS, the operator, has the remaining 60 percent working interest.


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