January 13, 2020 / 7:25 AM / 3 months ago

Lundin Petroleum cuts resource estimate for Arctic Alta field

OSLO, Jan 13 (Reuters) - Lundin Petroleum has cut its resource estimate for the Alta oil discovery in the Norwegian Arctic, and no longer sees Alta and the nearby Gohta find as commercially viable for a joint field development, the Swedish company said on Monday.

Instead the two finds could in the future be tied in as additional resources to another Arctic field, Equinor’s Johan Castberg, or to another potential discovery in the region, Lundin said. (Reporting by Terje Solsvik; Editing by Jan Harvey)

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