Edvard Grieg topside modules successfully installed, offshore Norway


Stockholm, 2015-07-16 08:14 CEST (GLOBE NEWSWIRE) --  

Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that its wholly owned subsidiary Lundin Norway AS (Lundin Norway) has successfully completed the installation of the topside modules on the Edvard Grieg field, offshore Norway.

The Edvard Grieg topside installation consisted of lifting four modules onto the pre-installed jacket - the main deck frame, the utility and living quarters module, the processing module and the flare boom with a total weight of 22,000 tonnes. The lift operation was carried out by Heerema's heavy lift vessel Thialf.

The final offshore hook up and commissioning of these modules has now begun with production expected to commence in the fourth quarter of 2015. Two of the production wells have been drilled and completed and are ready to be tied-in to the platform.

Lundin Norway is the operator and has a 50 percent working interest in PL338. The other partners are Wintershall Norway with 15 percent, OMV Norway with 20 percent and Statoil with 15 percent.

 

Lundin Petroleum is a Swedish independent oil and gas exploration and production company with a well balanced portfolio of world-class 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).


For further information, please contact:

Maria Hamilton
Head of Corporate Communications
E-mail: maria.hamilton@lundin.ch
Tel: +41 22 595 10 00
Tel: +46 8 440 54 50

 
Teitur Poulsen
VP Corporate Planning & Investor Relations
Tel: + 41 22 595 10 00

This information has been made public in accordance with the Securities Market Act (SFS 2007:528) and/or the Financial Instruments Trading Act (SFS 1991:980).

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Certain statements made and information contained herein constitute "forward-looking information" (within the meaning of applicable securities legislation). Such statements and information (together, "forward-looking statements") relate to future events, including the Company's future performance, business prospects or opportunities. Forward-looking statements include, but are not limited to, statements with respect to estimates of reserves and/or resources, future production levels, future capital expenditures and their allocation to exploration and development activities, future drilling and other exploration and development activities.  Ultimate recovery of reserves or resources are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.

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Attachments

Lundin Petroleum - Norway - EG topsides installation complete - 20150716en.pdf