Lundin deems major oil discovery non-commercial

The oil company has had to realize that it may have been too optimistic about its assessment of the Alta discovery in the Barents Sea.

Although Lundin Petroleum has upgraded its overall reserve estimates, the company has taken a major hit in the Barents Sea. | Photo: Lundin

by MATHIAS JULIUS FALKENGAARD

Discoveries in the Barents Sea have so far been pretty mediocre. Expectations were high, but reality has not quite been able to live up to them.

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