Lundin Petroleum Announces Timetable for Norway Discovery

Lundin Petroleum AB (TSX:LUP) announced that its Johan Sverdrup discovery, located offshore of Norway, is expected to produce its first oil in the fourth quarter of 2018.

As quoted in the press release:

A pre-unit agreement was signed in March 2012 whereby it was agreed that Statoil will act as working operator for the Johan Sverdrup discovery until the plan of development is submitted.

The current timetable for Johan Sverdrup is as follows:

• Fourth quarter 2013: Concept selection
• Fourth quarter 2014: Plan of development submission
• Fourth quarter 2018: First oil

Click here to read the full Lundin Petroleum AB (TSX:LUP) press release.