Corporate Presentation October 2020 WF12520 p01 04.20
Lundin Energy A Leading European Independent E&P Company Production Industry Low carbon 1bn targeting 200 leading opex 2.80 footprint 1/6 15 Dividend 1.00 USD/boe barrels of reserves Average 2020-2026 and…
Lundin Energy Resilient to Low Oil Prices High Quality, Low Cost Assets Improved Liquidity 850 MUSD in 2020 Industry Leading Low Operating Costs Cost Reductions and Deferrals in 2020 Low Cash Flow Breakeven 300 MUSD (1) 15…
Lundin Energy Organic Growth Strategy Southern Barents Sea Multiple Organic Growth Norway Pure Play Opportunities Material Acreage Position 7 Core Areas Maximise Mature Recovery/ Basins Step-outs Significant Norwegian…
Lundin Energy Long-term Production Growth Target Long-term 200 Mboepd guidance with upsides Target 170180 157 Mboepd 93 Mboepd(1) Mboepd 2019 2020 2021 onwards Delivering guidance or better for 20 quarters…
Lundin Energy Financial Performance Portfolio Cash Generation 90% of reserves onstream 15USD/boe FCF 90% oil - high quality breakeven…
Lundin Energy Shareholder Returns - Track Record Value Returned to Shareholders Shares in Issue 284 (million shares) MUSD 1520 15% Edvard Grieg 3,000 acquisition 16% share 340 redemption Valkyries acquisition 314 286…
Lundin Energy Industry Leading Decarbonisation Strategy Roadmap Industry leading low carbon business The Path to Carbon Neutrality Carbon Reduction Measures Starting Emissions Point Reduction/Energy Efficiency…
Lundin Energy Key Assets Production/Development Johan Sverdrup Norway Alvheim Area Production Alvheim Utsira High Area Production Development WF12623 p11 02.20 Edvard Grieg Edvard Grieg Tie-backs Lundin…
Lundin Energy Johan Sverdrup - In a League of its Own OPEX Carbon Footprint Phase…
Johan Sverdrup Phase 1 Performance Above Expectations Increased Plateau Reservoir Performance 470 Mbopd Excellent Achieved in April 2020 ahead of schedule Further capacity upsides 11 wells producing Well capacity…
Lundin Energy Greater Edvard Grieg Area - Keeping the Facilities Full 800 Gross Reserves/Resources (MMboe) 588 3P 410 2C EDVARD GRIEG 2P 2P + 120% 186 2P Produced Edvard Grieg July Upside Prospective(2) PDO 2020 (1)…
Greater Edvard Grieg Area Further Development Opportunities Solveig Development 40100 MMboe (1) Breakeven oil…
Lundin Energy Alvheim Area - Continuous Reserves Growth Gross Reserves/Resources (MMboe) 3P 495 2C +93% 257 Produced ALVHEIM FPSO 2P 2P PDO 2019 Upside Frosk Boa 2 infill wells - first online: Q4 2020 - second: Q1…
Lundin Energy Track Record of Growing Reserves Reserve Replacement Ratio (1,2) 6 consecutive year of reserves growth th 6,754% while growing production 4x Johan Sverdrup 242% Reserves Growth 163% 133% 144% 150% 2P…
Oil Field/Discovery Gas Field/Discovery Southern Barents Sea Prospects/Leads 2020 Wells Strategic Acquisition and High Impact Exploration Lundin Energy (LUNE) Assets Idemitsu Petroleum Norway / Lundin Energy Deal Idemitsu…
Lundin Energy Long-term Value Creation 170180 Mboepd long-term Target 200 Mboepd Multiple organic growth sources Industry leading low OPEX 3.24.2 USD/boe long-term Resilient to low oil prices 15 USD/boe FCF breakeven oil price…
Further information available on www.lundin-energy.com and the Lundin Energy App Access Lundin Energys latest information by downloading the Lundin Energy App and Social media WF12623 p30 02.20 Lundin Energy 19