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Lundin Petroleum’s subsidiary discovers oil deposit in Barents Sea

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Lundin Petroleum’s subsidiary discovers oil deposit in Barents Sea

Lundin Norway AS, a subsidiary of Sweden company Lundin Petroleum, discovered a large oil deposit in Norwegian part of the Barents Sea, namely, at PL533 licensed section, the company informs on Monday.


The discovered oil deposit was named “Filicudi”.

“The oil deposit’s resources amount to between 35 and 100 million barrels of crude oil equivalent,” the company’s statement reads.

Lundin Norway is an operator of a licensed section, it owns 35% of the license. Another two stakes, 30 and 35%, belong to Mikhail Fridman’s DEA Norge and Aker BP respectively.

According to Rambler News, following the results of the year 2016, net loss of Lundin Petroleum reduced 1,7 times and totaled $499,3 million.

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