Lundin Petroleum CEO Says Early Sverdrup Start Is Possible

The transcript discusses the Sverdrup project's timeline, emphasizing a November target for oil production. It highlights cost reductions achieved in phase one and anticipates similar trends in phase two. A deal with Equinor allows for share redemption without affecting dividends, as the company expects strong cash flow. The decision not to buy back Equinor's entire stake in London Petroleum is explained, with both parties content with the current arrangement.

What is the expected start date for the Sverdrup project?

• Mid-September

• November 1st

• Early October

• End of December

What has been the trend in cost reductions for the Sverdrup project?

• Increasing costs

• Stable costs

• Quarterly cost reductions

• No change in costs

How did Equinor manage to execute the project effectively?

• By increasing investments

• During a high industry cycle

• By delaying the project

• During a low industry cycle

What percentage of shares is being redeemed in the deal with Equinor?

• 10%

• 25%

• 16%

• 20%

Will the company's dividend policy change after the Equinor deal?

• It will be suspended

• Yes, it will decrease

• Yes, it will increase

• No, it will remain unchanged