Offshore & subsea - 29 October 2021

The acquisition from OMV Norge takes Lundin Energy’s working interest to 35% in the 500 million barrel oil development.

The project will encompass approximately 6800 km2, with final products expected in 4Q22.

The parties to the MoU will progress discussions with the view to signing final agreements to implement the Anchois Gas Development, with targeted Final Investment Decision in 2022 and first gas in 2024.

The Mugnetind discovery is estimated to contain recoverable resources between 5 and 11 million boe, which is not considered to be commercial in isolation.