Top Story | Field Development | Offshore | Capital Markets | Capital Expenditure | Capital Expenditure - 2017
Lundin Spending 40% More in 2017; IDs $1.3B Capex
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Lundin Petroleum has detailed its 2017 capital budget.
Budget Breakdown: Total budget of $1.305 billion (up +40% from 2016) Development BudgetThe 2017 development expenditure is budgeted at USD 1,095 million. With respect to committed development projects the 2017 capital budget represent the peak year of capital expenditure up to Johan Sverdrup first oil.
Approximately 99 percent of the 2017 budgeted development expenditure, corresponding to USD 1,085 million, relates to development projects in Norway with some minor expenditure items on the non-Norwegian assets. Most of the expenditure in Norway relates to the ongoing development activity on Phase 1 for Johan Sverdrup, continued development drilling at Edvard Grieg and further infill wells on Alvheim and Volund.
1. Between 70 and 80…
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