Lundin Petroleum

Lundin Petroleum is an independent international petroleum company formed in 2001 and based in Sweden.

The company was formed in 2002 following the takeover of Lundin Oil AB by Canadian independent Talisman Energy, Lundin Petroleum AB is a Swedish oil company traded on the . 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.

In April 2010 it demerged its assets on the United Kingdom Continental Shelf into Petrofac's Energy Developments unit to form the stand-alone company EnQuest.

In February 2015, it has started drilling exploration well 16/1-24, located in the Gemini prospect of the North Sea. The well is located in PL338C south-west of the Edvard Grieg field, offshore Norway. It will test the reservoir properties and hydrocarbon potential of Lower Paleocene aged sandstones of the Ty Formation. The Gemini prospect is estimated to contain unrisked, gross prospective resources of 93 million barrels of oil equivalent (Mmboe). The Island Innovator semi-submersible drilling rig will be used to drill the well to a planned total depth of 2,192m below mean sea level.

Founder Adolf H. Lundin has founded also Lundin Mining in 1994. In June 2015, Alex Schneiter was appointed President and Chief Executive Officer, effective October 2015.