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May 2021 Corporate Presentation – Lundin Petroleum

Lundin Petroleum · May 1, 2021 · 23 slides

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Slides

  1. May 2021 Corporate Presentation – Lundin Petroleum – slide 1
    Lundin Energy Corporate Presentation May 2021 WF12736 p01
  2. May 2021 Corporate Presentation – Lundin Petroleum – slide 2
    Lundin Energy A Leading European Independent E&P Company Industry FCF Carbon Neutral Production leading Opex breakeven 1 Dividend from 1bn 200 3.0 10 1.8 2025 barrels of reserves and resources Mboepd USD/boe 2021 USD/boe…
  3. May 2021 Corporate Presentation – Lundin Petroleum – slide 3
    Lundin Energy Consistent Focused Strategy Capital discipline Organic Strong production free cash flow growth generation Low Resilience Sustainable breakeven price Sustainability dividend growth projects Growth…
  4. May 2021 Corporate Presentation – Lundin Petroleum – slide 4
    Lundin Energy Southern Growth Strategy Barents Sea Norway Pure Play Maximise 7 Core Areas recovery/ step-outs 90 Licences Opportunistic Multiple acquisitions Mature Lundin Growth prospective Opportunities Basin Norwegian…
  5. May 2021 Corporate Presentation – Lundin Petroleum – slide 5
    Lundin Energy Long-term Production Growth Sustain 200 Mboepd Full year guidance 200 with upsides/ new projects Mboepd 170190 165 Mboepd Mboepd 2020 2021 2023 Delivering guidance or better 8x increase from 2015…
  6. May 2021 Corporate Presentation – Lundin Petroleum – slide 6
    Lundin Energy Financial Resilience Average FCF Breakeven (1) 20212026 10 USD/boe 2P 15 USD/boe 2P + 2C HIGH MA RG N I N IO Free Cash Flow BA AT 46 Bn USD RR ER (2) ELS ONG FCF GEN R ST E AG…
  7. May 2021 Corporate Presentation – Lundin Petroleum – slide 7
    Lundin Energy A Proven Track Record of Shareholder Returns Cash In Kind Buy 4.0 Dividends Dividends Backs 1.4 1.1 1.5 Bn USD (2) Bn USD Bn USD Bn USD Lundin Energy Share Price Material, growing & sustainable 2010 2021…
  8. May 2021 Corporate Presentation – Lundin Petroleum – slide 8
    Lundin Energy Accelerated Decarbonisation Worlds first certified Carbon Neutral crude sale (2) Carbon Intensity (1) kg CO2/boe Carbon…
  9. May 2021 Corporate Presentation – Lundin Petroleum – slide 9
    Lundin Energy Powered by Renewables Renewable Power Generation offsetting usage (1) Johan Sverdrup phase 1 power usage 145 Metslamminkangas Windfarm 2021 60% GWhr p.a. Norway Leikanger power generation Johan Sverdrup full…
  10. May 2021 Corporate Presentation – Lundin Petroleum – slide 10
    Lundin Energy Key Assets High quality, low cost assets Production/Development Johan Sverdrup Alvheim Area Production / Development Norway Alvheim Area Utsira High Area Production / Development Greater Edvard Grieg…
  11. May 2021 Corporate Presentation – Lundin Petroleum – slide 11
    Johan Sverdrup Performance above Expectations Carbon Excellent Footprint…
  12. May 2021 Corporate Presentation – Lundin Petroleum – slide 12
    Johan Sverdrup CAPEX Phase 2 on Track 55% complete 41 Bn NOK unchanged from PDO First Oil Q4 2022 Offshore installations commence Q2 2021 Full Field Capacity 720 Mbopd de-bottlenecking studies ongoing WF12755 p05…
  13. May 2021 Corporate Presentation – Lundin Petroleum – slide 13
    Greater Edvard Grieg Area Gross Reserves/Resources (1) (MMboe) Keeping the Facilities Full 800 589 3P EDVARD GRIEG 410 2C 2P 186 Online 2021 Programme 2P Produced Reserves Original Current Upside Prospective (2)…
  14. May 2021 Corporate Presentation – Lundin Petroleum – slide 14
    Tellus North 0 KM 1 Edvard Grieg 4 Water injectors OW C Infill Well Programme on Track 10 Oil producers 2021 Infill wells Tellus East Fishbone 3 Infill Wells completion 18 MMboe 16/1-4 Breakeven oil…
  15. May 2021 Corporate Presentation – Lundin Petroleum – slide 15
    Edvard Grieg Solveig Phase 1 & Rolvsnes EWT First Oil Q3 2021 Solveig Phase 1 40100 MMboe (1) Breakeven oil…
  16. May 2021 Corporate Presentation – Lundin Petroleum – slide 16
    Greater Edvard Grieg Area Extending Plateau Production PDO1 Latest 2 yrs 7 yrs Plateau production 5 year plateau extension since PDO 140 120 t ci e Exploration y a p n l Ca ecli and further a t i o n en d i A d d A…
  17. May 2021 Corporate Presentation – Lundin Petroleum – slide 17
    Reserves Alvheim Area Gross Reserves/Resources (1) (MMboe) Continuous Reserves Growth 616 3P 508 2C +98% 257 Produced ALVHEIM FPSO Online 2P Future opportunities 2P Reserves Original Current Upside Resources Reserves…
  18. May 2021 Corporate Presentation – Lundin Petroleum – slide 18
    Lundin Energy Track Record of Growing Reserves Total Resource Replacement Ratio (%) (1) Resources Growth 210% 150% 100% 2P 2P + 2C Reserves Resources 2020 20162020 671 946 MMboe MMboe WF12736 p11 01.21 (1) 2P…
  19. May 2021 Corporate Presentation – Lundin Petroleum – slide 19
    Lundin Energy Sustaining Production 200 Mboepd Delivering Growth Sustaining Production Delivering Future Value 200 Mboepd by 2023 9 potential new projects 2021 E&A Programme targeting 200 MMboe (1) Remaining 6 wells targeting…
  20. May 2021 Corporate Presentation – Lundin Petroleum – slide 20
    Sustaining Production Wisting Pipeline of Projects Southern Barents Sea Projects 2021 2022 Alta Concept select PDO 4 under development Wisting 4 moving towards PDO Harstad Moving Towards PDO Frosk PDO 5 require derisking…
  21. May 2021 Corporate Presentation – Lundin Petroleum – slide 21
    Lundin Energy Shenzhou Barents Sea 2021 Wells Southern Barents Sea E&A Programme 6 remaining wells targeting 300 MMboe net unrisked resources 60 MMboe net risked resources Net unrisked prospective resources (MMboe) 300…
  22. May 2021 Corporate Presentation – Lundin Petroleum – slide 22
    Lundin Energy Focused Value Creation Growth Resilience Sustainability Production Long-term Opex Average Carbon Neutral 200 34 FCF breakeven 2025 Mboepd by 2023 USD/boe 10 USD/bbl (1) Sustain with Industry leading FCF…
  23. May 2021 Corporate Presentation – Lundin Petroleum – slide 23
    www.lundin-energy.com Follow us Access Lundin Energys latest information on anytime, anywhere by downloading the social media Lundin Energy App

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