Sverdrup partner targets even cheaper oil production

Swedish oil major Lundin believes it has the lowest production costs on the Norwegian Shelf, reports E24. Yet the company wants to make further cuts in 2018.

Photo: PR-foto: Statoil

Lundin Petroleum wants to shrink oil production costs even more this year.

The oil company believes that it already has the lowest production expenses on the Norwegian Shelf with USD 4.25 per barrel last year. But Lundin is still aiming to shave a further 10 percent off of expenses in 2018 so that the barrel cost would be USD 4.15, reports Norwegian media E24.

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