Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that the Norwegian Ministry of Petroleum and Energy (the Ministry) has determined the allocation of resources in the Johan Sverdrup oil field and has decided to increase the unitised interest for Lundin Petroleum from 22.12 to 22.6 percent.
On the 13th February 2015 the partners in Johan Sverdrup together submitted the Plan of Development and Operation for Phase 1 to the Ministry and at the same time the majority of the partnership asked the Ministry to determine the final allocation of resource.
The Ministry’s allocation of resources is the following: Statoil, the operator, 40.0267 percent unitised interest, Lundin Petroleum 22.6 percent, Maersk Oil 8.44 percent, Petoro 17.36 percent and Det norske oljeselskap 11.5733 percent.
About Lundin Petroleum
Lundin Petroleum is a Swedish independent oil and gas exploration and production company with a well balanced portfolio of worldclass assets primarily located in Europe and South East Asia. The Company is listed on NASDAQ Stockholm (ticker "LUPE"). Lundin Petroleum has proven and probable reserves of 187.5 million barrels of oil equivalent (MMboe).