Lundin Petroleum to face penalties on Sudan operations

More than a decade after it exited its operations in what was then Sudan, Lundin Petroleum is facing economic penalties for its previous activities there.

According to the company it received notification from the Swedish Prosecution Authority indicating it may be liable to a corporate fine and forfeiture of economic benefits in connection with the preliminary investigation into past operations in Sudan from 1997 to 2003.

The notification indicated that the Prosecutor may seek a corporate fine of SEK 3 million andforfeiture of economic benefits from the alleged offense in the amount of SEK 3,282 million, based on the profit of the sale of the Block 5A asset in 2003 of SEK 729 million.Any potential corporate fine or forfeiture would only be imposed after the conclusion of a trial, should one occur.

Source: Petroleum Africa

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