Exploration & Production | Capital Markets | Capital Expenditure | Drilling Program
Lundin Petroleum Decreases Spending 31%
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Lundin Petroleum AB has announced its 2015 development, appraisal and exploration budget which totals USD $1.45 billion and represents a 31 percent decrease on forecast 2014 capital expenditure.
The 2015 expenditure on development projects is budgeted at USD 980 million which represents a 30 percent decrease on forecast 2014 development expenditure.
The 2015 budgeted expenditure on exploration activity is USD 320 million which is a 27 percent decrease on forecast 2014 exploration expenditure and the budgeted 2015 appraisal expenditure amounts to USD 150 million which is a 48 percent decrease on the forecast 2014 appraisal expenditure.
77 percent of the 2015 budgeted development expenditure, corresponding to USD 750 million, relates to ongoing development projects in…
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