Lundin Petroleum has unveiled a US $2.1 Bn development, appraisal and exploration budget for 2014 – which has a major focus on Norway. The operator has set aside $1.4 Bn for develop-ment projects this year, which represents a 25 increase on forecast 2013 development expendi-ture. The 2014 expenditure on exploration activity is $380m, which is about the same as 2013 explo-ration spending. The 2014 appraisal expenditure amounts to $300m, said Lundin.
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