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Lundin Petroleum is an independent international petroleum company based in Sweden.
[edit] Overview
Created in 2001 following the takeover of Lundin Oil AB by Canadian independent Talisman Energy, Lundin Petroleum AB is a Swedish oil company traded on the Stockholm Stock Exchange. The company owns IPC (International Petroleum Corporation), through which it had a 40.375% share in Block 5A in the Sudanese Muglad oil fields. It also retains a 24.5 percent interest in Block 5B. In the summer of 2003, Lundin Petroleum sold its working interest in Block 5A to Petronas Carigali for USD 142.5 million. In 1998 the company discovered the En Naga North and West field in southern part of the Sirte Basin, Libya. After a successful appraisal program in 1998 and 1999 the field was declared the commercial and development program commenced. Development included the construction of a central production facility, 100 km pipeline together with the drilling of 20 production, 15 injector and 15 water supply wells. Recoverable reserves were estimated to be approximately 100 mmbbls. In Tunisia, the Oudna field development (Lundin Petroleum 40% working interest) was successfully completed and production commenced in November 2006.[2]
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