19 licences awarded in the Norwegian licensing round

Stockholm, SWEDEN


Lundin Energy AB announces that its wholly owned subsidiary Lundin Energy Norway AS (together Lundin Energy), has been awarded a total of 19 exploration licence interests in the 2020 Awards in Predefined Areas (APA) licensing round, in Norway. 

The award includes 15 licences in the North Sea, two licences in the Norwegian Sea and two licences in the Southern Barents Sea, seven of the newly awarded licences will be operated by Lundin Energy Norway.

The awards from this licensing round continue to build on the Company’s seven core exploration areas and increases by 23 percent the number of licences held by the Company. Supporting the Company’s strategy to execute an exploration programme which targets a combination of high value, near field opportunities and high potential, frontier exploration.

The licence interests are detailed below:

LicenceBlocksWorking Interest
(Percent)
Area
1089*1/5,650North Sea
10872/2, 550North Sea
1084*3/760North Sea
10907/130North Sea
1091*15/5,6,840North Sea
1092*15/6,950North Sea
109715/3, 24/11, 1230North Sea
1095*16/2, 25/1150North Sea
1094*17/2,3,5,6,8, 18/760North Sea
1045B125/415North Sea
820SB125/840North Sea
109925/3, 26/1, 30/12, 31/1030North Sea
110430/340North Sea
1102*30/3, 31/1,4,560North Sea
110634/2,3,5,620North Sea
11266609/5,6,7,8,9,10,11,12, 6610/2,4,5,6, 6611/4,530Norwegian Sea
11296703/7,8,9,10,11,12, 6704/7,8,10,1130Norwegian Sea
229G17122/8,950Southern Barents Sea
11317122/8,9,10,11,12, 7123/7,8,920Southern Barents Sea

*Operator Lundin Energy Norway
1 Geographical extension of the licence area.


Lundin Energy has grown from an oil and gas exploration company into an experienced Nordic energy developer and operator. We continue to explore new ideas, new concepts and new solutions to maintain our position as an industry leader in production efficiency, sustainability and decarbonisation. (Nasdaq Stockholm: LUNE). For more information, please visit us at www.lundin-energy.com or download our App www.myirapp.com/lundin


For further information, please contact:

Edward Westropp
VP Investor Relations
Tel: +41 22 595 10 14
edward.westropp@lundin-energy.com
Robert Eriksson
Head of Media Communications
Tel: +46 701 11 26 15
robert.eriksson@lundin-energy.com


Forward-looking statements
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 Lundin Energy’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.

All statements other than statements of historical fact may be forward-looking statements. Statements concerning proven and probable reserves and resource estimates may also be deemed to constitute forward-looking statements and reflect conclusions that are based on certain assumptions that the reserves and resources can be economically exploited. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe” and similar expressions) are not statements of historical fact and may be “forward-looking statements”. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations and assumptions will prove to be correct and such forward-looking statements should not be relied upon. These statements speak only as on the date of the information and Lundin Energy does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws. These forward-looking statements involve risks and uncertainties relating to, among other things, operational risks (including exploration and development risks), productions costs, availability of drilling equipment, reliance on key personnel, reserve estimates, health, safety and environmental issues, legal risks and regulatory changes, competition, geopolitical risk, and financial risks. These risks and uncertainties are described in more detail under the heading “Risk management” and elsewhere in Lundin Energy’s Annual Report. Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. Actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are expressly qualified by this cautionary statement.

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