Lundin Energy has a proven track record of discovering and developing oil and gas resources and bringing them into production efficiently and responsibly.
In June 2020, the Norwegian Government announced tax incentives that will apply to new projects for which a Plan for Development and Operation is submitted before the end of 2022. Lundin Energy has a pipeline of new projects that can meet this requirement and will be aiming to accelerate appraisal activities and field development studies, with the objective of maturing and potentially sanction them all within the time frame. The first of these, the Kobra East/Gekko project, has already been sanctioned, with the PDO submitted for approval.
3 projects moving towards PDO
In the Alvheim area, two projects are being matured towards final investment decision, Frosk and Trell/Trine. Frosk was discovered in 2018 and has been successfully appraised by a test production well drilled in 2019, derisking a further development of the discovery. The Trell/Trine development is a subsea tie-back to the Alvheim FPSO.
Lundin Energy has a 10 percent working interest in the Wisting oil discovery in the Southern Barents Sea, estimated to hold 500 MMbo of gross resources. Equinor, the operator of Wisting in the development phase, is targeting a PDO by end 2022.
3 potential new projects require de-risking
In the Edvard Grieg Area, the Solveig Phase 2 and the Rolvsnes Full Field development will be de-risked through production experience from Solveig Phase 1 and the Rolvsnes EWT which will come on stream in 2021. The appraisal well for the Lille Prinsen discovery was spudded in early July 2021.