Industry leading production growth
Since 2015, Lundin Energy has increased its production more than four-fold, fuelled by Edvard Grieg starting production in November 2015 and Johan Svedrup coming on stream in October 2019.
Production is set to almost double again from 2019 levels, reaching between 170 and 180 Mboepd by 2021. Our ambition is to go beyond this and reach over 200 Mboepd by realising the identified upsides in our current producing portfolio.
2020 production guidance
Production guidance for 2020 is 157 Mboepd which compares to 93.3 Mboepd in 2019. The growth is due to the ramp-up of Johan Sverdrup which will almost double the production volume, despite the production restriction measures imposed by the Norwegian Government effective from June through December 2020. The original guidance for the year was set to between 145 and 165 Mboepd, which was later increased to between 160 and 170 Mboepd, prior to the production cuts announced by the Norwegian Government. The current production guidance of 157 Mboepd is at the top end of the original guidance range for 2020.