Lundin Book US$66-Million Offshore Exploration Costs

Posted by George Backwell April 22, 2014

Swedish oil explorer Lundin Petroleum will book a net exploration cost of $66 million in the first quarter of this year, it said on Tuesday.

"During the Period, Lundin Petroleum completed two exploration wells in Norway and two exploration wells in Indonesia which were announced as either non-commercial or as dry holes and the associated costs will therefore be expensed to the income statement for the period," it said in a statement.

(By Gwladys Fouche)

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