Lundin Petroleum has reported second quarter earnings and production below expectations in the second quarter of 2015.
The company lowered its 2015 production guidance but has kept its year-end production target.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) dropped 38% on the year to $106.5million.
Meanwhile production guidance was decreased to 32,000 barrels of oil equivalent per day (boepd) from a previous guidance of between 41,000 and 51,000 boepd.
A spokesman said:”We have revised our guidance … predominantly as a result of the Brynhild revised production forecast and the delay of the installation of Edvard Grieg topsides.”
The firm said it will still target a 2015 exit production rate of 75,000 boepd after first oil from the Edvard Greig field is expected by late December this year.
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