Russian licensing authority Rosnedra issued a production license for Morskaya Field in the Lagansky Block in the Russian part of the Caspian Sea, Sweden’s Lundin Petroleum AB said May 18.
The production license is valid until 2035 and covers about 50 sq km. Morskaya Field might hold 157Mboe in gross contingent resources.
LLC Petroresurs owns the field. Lundin Petroleum holds a 70% shareholding in LLC Petroresurs. Gunvor Group holds the remaining 30%.
Stockholm’s Lundin Petroleum has 187.5MMboe of proven and probable reserves.
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