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Lundin Energy Norway Management Succession
Lundin Energy AB (Lundin Energy or the Company) announces that the Board of Lundin Energy Norway AS (Lundin Energy Norway) and Managing Director Kristin Færøvik have agreed that she will retire from her position on 31 December 2021. Morten Grini has been appointed as the new Managing Director from 1 January 2022.
Morten Grini is presently Director for Drilling and Wells in Lundin Energy Norway and has been a member of the leadership team in the Company since joining in 2017. Prior to that he worked for ExxonMobil in Norway and internationally for 19 years across a range of leadership roles.
Nick Walker, President and CEO, Lundin Energy comments:
“I would like to thank Kristin for seven years of committed service. Lundin Energy Norway has seen continued and successful growth under her leadership, from production of just over 20 thousand barrels of oil per day to around 190 thousand barrels per day in 2021. The flagship operated Edvard Grieg field on the Utsira High has consolidated its position as a host facility, and the giant Johan Sverdrup field has been put into production. The Company has delivered strong results throughout her tenure. She has also built a high performing team that will be an important asset for the Company moving forwards.
“We know Morten very well as a highly successful technical professional and leader, who has made a significant impact in Lundin Energy in the relatively short time he has been with us. I look forward to working closely with him in his new role of Managing Director, as we continue to build Lundin Energy as one of the leading companies operating on the Norwegian Continental Shelf”.
Kristin Færøvik, Managing Director, Lundin Energy Norway comments:
"I am proud of having continued to develop Lundin Energy’s business in Norway, and of the success of Edvard Grieg and Johan Sverdrup. After seven years of leading the Company, it is with pleasure I hand over the baton to Morten. Lundin Energy Norway has fabulous employees and I wish them and the Company all the best for the future”.
For further information, please contact:
Edward Westropp
VP Investor Relations
Tel: +41 22 595 10 14
edward.westropp@lundin-energy.com
Robert Eriksson
Head of Media Communications
Tel: +46 701 11 26 15
robert.eriksson@lundin-energy.com
Lundin Energy is an experienced Nordic oil and gas company that explores for, develops and produces resources economically, efficiently and responsibly. We focus on value creation for our shareholders and wider stakeholders through three strategic pillars: Resilience, Sustainability and Growth. Our high quality, low cost assets mean we are resilient to oil price volatility, and our organic growth strategy, combined with our sustainable approach and commitment to decarbonisation, firmly establishes our leadership role in a lower carbon energy future. (Nasdaq Stockholm: LUNE). For more information, please visit us at www.lundin-energy.com or download our App www.myirapp.com/lundin
Forward-looking statements
Certain statements made and information contained herein constitute “forward-looking information” (within the meaning of applicable securities legislation). Such statements and information (together, “forward-looking statements”) relate to future events, including Lundin Energy’s future performance, business prospects or opportunities. Forward-looking statements include, but are not limited to, statements with respect to estimates of reserves and/or resources, future production levels, future capital expenditures and their allocation to exploration and development activities, future drilling and other exploration and development activities. Ultimate recovery of reserves or resources are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.
All statements other than statements of historical fact may be forward-looking statements. Statements concerning proven and probable reserves and resource estimates may also be deemed to constitute forward-looking statements and reflect conclusions that are based on certain assumptions that the reserves and resources can be economically exploited. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe” and similar expressions) are not statements of historical fact and may be “forward-looking statements”. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations and assumptions will prove to be correct and such forward-looking statements should not be relied upon. These statements speak only as on the date of the information and Lundin Energy does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws. These forward-looking statements involve risks and uncertainties relating to, among other things, operational risks (including exploration and development risks), productions costs, availability of drilling equipment, reliance on key personnel, reserve estimates, health, safety and environmental issues, legal risks and regulatory changes, competition, geopolitical risk, and financial risks. These risks and uncertainties are described in more detail under the heading “Risk management” and elsewhere in Lundin Energy’s Annual Report. Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. Actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are expressly qualified by this cautionary statement.
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