This is 90% higher than envisaged in the original plan for development and operation.
The 50-MMboe increase, audited by ERC Equipoise, follows continued strong production performance, with peak output from the Greater Edvard Grieg Area (including the Solveig Phase 1 and Rolvsnes extended well test developments) now set to continue until late 2023.
According to the company, water production levels from the Edvard Grieg field have been lower than anticipated. A recent 4D seismic survey, which images movement of water in the reservoir, shows that the water injection flood front is farther from the production wells than predicted, indicating higher in-place oil.
An updated reservoir model incorporating these results supports the reserves upgrade, Lundin added, with no additional investment likely to be needed above a planned infill well program.
There appears to be further upside in the Greater Edvard Grieg Area, where the company assesses the ultimate resource potential at 800 MMboe, including untapped parts of existing fields and unrisked prospective resources.
It has identified exploration targets within tieback distance of the production facilities, with a well due to spud on the Merckx prospect in license PL981 later this year.
Lundin will look to progressively mature these opportunities to keep the facilities fully used beyond 2023.