Lundin Energy Lifts Output Forecast

June 14, 2021

Lundin's platform offshore Norway - (File photo: Lundin Energy Norge)
Lundin's platform offshore Norway - (File photo: Lundin Energy Norge)

Swedish oil firm Lundin Energy raised its full-year production forecast on Monday and said output had exceeded forecasts at all its key fields.

The company now expects daily output for 2021 to average between 180,000-195,000 barrels of oil equivalent per day (boed), up from the original guidance of 170,000-190,000 boepd.

A scheduled increase in output at western Europe's largest oilfield, Norway's Johan Sverdrup, had gone more rapidly than expected, Lundin said in a statement.

Operator Equinor holds a 42.6% stake in Sverdrup, Lundin Energy has 20%, Petoro holds 17.36%, Aker BP owns 11.57% and TotalEnergies has 8.44%.

(Reporting by Terje Solsvik, editing by Nerijus Adomaitis)



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