Lundin Petroleum declares its 2016 development, appraisal and exploration budget which totals USD 1.08 billion and represents a 26 percent decrease on 2015 capital expenditure.

Lundin Petroleum also says that as at 31 December 2015 its proven and probable working interest reserves are 685 million barrels of oil equivalents and its best estimate contingent resources are 386 MMboe. The production guidance for 2016 is between 60,000 to 70,000 barrels of oil equivalents per day.

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