Lundin Petroleum declares its 2013 development, appraisal and exploration budget which totals USD 1,700 million. 2013 will be the busiest year in the company's history both in relation to exploration and development activities.

The 2013 expenditure on development projects is budgeted at USD 1,100 million which represents approximately a 150 percent increase on forecast 2012 development expenditure. The 2013 budgeted expenditure on exploration activity is USD 460 million which represents approximately 40 percent increase on the forecast 2012 exploration expenditure. The budgeted 2013 appraisal expenditure amounts to USD 150 million against a forecast 2012 appraisal expenditure of approximately USD 150 million.

Tags: Lundin Petroleum