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Lundin Petroleum AB Announces Approval for Development of Boyla Field in License Shared with Marathon Oil Corporation and Conoco Philips

Friday, 26 Oct 2012 08:05am EDT 

Lundin Petroleum AB announced that its wholly owned subsidiary Lundin Norway AS has received approval from the Norwegian Ministry of Petroleum and Energy of the Plan for Development and Operation (PDO) for the Boyla field in PL 340 shared with Marathon Oil Corporation and Conoco Philips Skandinavia, in the Norwegian North Sea. First production from Boyla is expected in the fourth quarter of 2014. The Boyla field is located approximately 28 kilometers south of the Alvheim field, operated by Marathon Oil. The development solution selected for the Boyla field is a subsea tie-back to the Alvheim floating production, storage and offloading (FPSO) vessel. The estimated gross reserves are approximately 21 million barrels of oil equivalent with gross peak production of 19,000 boepd. Lundin Petroleum has a 15%-working interest in the Boyla field. Partners are Marathon (operator) with 65% and Conoco Philips Skandinavia with 20% working interest. 

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25 Jul 2014