Lundin
The Wisting development is on track for project sanction by the end of 2022;
- The main FEED contract for the floating production unit has been awarded to Aker Solutions and will be executed in
Norway , ensuring high quality build and finish, including an engineering, procurement, construction and installation (EPCI) option which would be executed after project sanction - Other FEED studies have been awarded following the decision to pursue the project, with the main part of this work also being carried out in
Norway - The development concept includes a circular FPSO and power from shore, resulting in very low CO2 emissions from the field
- Lundin Energy’s renewable energy projects will generate sufficient power to cover the expected net electricity usage from Wisting, leading to zero net Scope 2 emissions
- Gross capital investment expected to be between
NOK 60 billion to 75 billion - The Wisting discovery contains recoverable resources of 500 million barrels of oil
- Production is expected to start up in 2028 and Equinor plan to submit a Plan for Development and Operations (PDO) by end 2022
Lundin Energy has recently increased its working interest in Wisting to 35 percent1
For further information, please contact:
VP Investor Relations
Tel: +41 22 595 10 14
edward.westropp@lundin-energy.com
Head of
Tel: +46 701 11 26 15
robert.eriksson@lundin-energy.com
1Increase to 35 percent is subject to Norwegian regulatory approvals and is expected to complete in the fourth quarter 2021
Forward-looking statements
Certain statements made and information contained herein constitute “forward-looking information” (within the meaning of applicable securities legislation). Such statements and information (together, “forward-looking statements”) relate to future events, including Lundin Energy’s future performance, business prospects or opportunities. Forward-looking statements include, but are not limited to, statements with respect to estimates of reserves and/or resources, future production levels, future capital expenditures and their allocation to exploration and development activities, future drilling and other exploration and development activities. Ultimate recovery of reserves or resources are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.
All statements other than statements of historical fact may be forward-looking statements. Statements concerning proven and probable reserves and resource estimates may also be deemed to constitute forward-looking statements and reflect conclusions that are based on certain assumptions that the reserves and resources can be economically exploited. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe” and similar expressions) are not statements of historical fact and may be “forward-looking statements”. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations and assumptions will prove to be correct and such forward-looking statements should not be relied upon. These statements speak only as on the date of the information and
Attachment
Lundin Energy - FEED contract for Wisting awarded - V5 - 10112021en
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