Lundin Petroleum AB (Lundin Petroleum) is pleased to announce its 2020 development, appraisal, exploration and abandonment budget which totals USD 1.27 billion and represents a 30 percent increase on 2019 capital expenditure. The production guidance for 2020 is between 145 to 165 thousand barrels of oil equivalent per day (Mboepd) and the long-term production guidance is increased to 160 – 170 Mboepd from 2021 with a target of over 200 Mboepd.