Lundin Petroleum Says Arctic Oil Test Points To Bigger Reservoir

Swedish oil firm Lundin Petroleum expects to increase its resource estimate for the Alta discovery in Norway’s Arctic region following a successful two-month production test, the company said Sept. 25.

Finding significant oil reserves in the Norwegian Arctic has been challenging for oil firms, but Alta is among the exceptions along with Eni’s Goliat field and Equinor’s Johan Castberg discovery.