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Gold/Mining/Energy : Lundin Petroleum LUPE Sweden -- Ignore unavailable to you. Want to Upgrade?

To: Tomas who wrote (579)	8/12/2004 9:22:31 PM
From: Tomas	Respond to of 646

New Broom sweeps in for Lundin Upstream, Friday, August 13 First oil has been produced from Lundin Petroleum's Broom field in the UK North Sea, writes Iain Esau. Broom, in block 2/5, has been developed as a subsea tie back to the company's Heather field, with the first well flowing at an average rate of 16,000 barrels per day. Two additional pre-drilled production wells and a water injection well are to be completed, along with the drilling of a further injection well. Completion of this programme is expected during the remainder of this quarter and the fourth quarter and plateau oil production is expected to be more than 20,000 bpd. Broom's development required "significant" investment to upgrade and modernise the Heather platform, said Lundin. The new field's reserves are estimated to be 36 million barrels in its first phase with further nearby development opportunities being evaluated. Lundin operates Broom and is partnered by US-based Challenger Minerals and Palace Exploration.