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Lundin Petroleum finishes Edvard Grieg field development drilling program

Lundin Petroleum AB (publ)'s subsidiary Lundin Norway AS has finished the development drilling program at the Edvard Grieg field on the Utsira High in the Norwegian North Sea, according to a July 5 news release.

The Edvard Grieg field started production in 2015 with current gross production pegged at approximately 95,000 barrels of oil equivalent per day, while total gross production from first oil to end of the first quarter 2018 amounted to 74 million barrels of oil equivalent. The company expects gross recovery could grow to more than 300 MMboe and that tie-back opportunities in the area have the potential to double the volumes produced through the field.

The reserve upgrade has also led to the field production plateau being extended by two years through the end of 2019. In addition, the company said an infill development drilling program is being planned for 2020 and has the potential to further extend the production plateau. A 4D seismic study will be acquired over the field in 2018 to refine the infill well targets, the release adds.

Lundin Norway is the operator of PL338 with a 65% stake, while OMV (Norge) AS holds a 20% interest, and the remaining 15% is held by Wintershall Norge AS.