Lundin sets $1.7 Bn budget for 2013

摘要

Lundin Petroleum said that its 2013 development, appraisal and exploration budget has been set at US $1.7 Bn. 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 $1.1 Bn, which represents approximately a 150% increase on forecast 2012 development expenditure. The company is looking to spend $460m on exploration, which represents an approximately 40% increase on the forecast 2012 exploration expenditure. The budgeted 2013 appraisal expenditure amounts to $ 150m against a forecast 2012 appraisal expenditure of approximately $150m. Substantially all of the 2013 budgeted development expenditure relates to ongoing development projects in Norway.