Lundin Petroleum says that as at 31 December 2012 its net proven and probable working interest reserves (2P reserves) are 201.5 million barrels of oil equivalent (MMboe) and that the production forecast for 2013 is between 33,000 and 38,000 barrels of oil equivalent per day (boepd).

Lundin Petroleum is predominantly an oil company with 91 percent of its 2P reserves being oil3 and 89 percent of the 2P reserves being located in OECD regions.

The 2P reserves have been positively impacted by the Bertam field, offshore peninsular Malaysia, which has been added to 2P reserves. Further increases result from Lundin Petroleum's main producing assets, the Alvheim and Volund fields offshore Norway which yet again delivered better than expected reservoir performance, as well as the Brynhild field offshore Norway which gained reserves through the addition of one extra production well and an equity increase in the field from 70 percent to 90 percent. These additions were offset by reserves reductions predominantly on the Gaupe gas/condensate field offshore Norway and producing assets in the Komi Republic in northern Russia.

Tags: Lundin Petroleum