Further to a decision of its Board of Directors, Lundin Petroleum joined the United Nations Global Compact in May 2010. The Global Compact is a voluntary leadership initiative that aims to encourage businesses worldwide to adopt sustainable and socially responsible policies, and to report on their implementation. It was launched in 2000, following a call by the then UN Secretary-General Kofi Annan urging businesses to play an active role in the globalization process, and has since then become the world's largest corporate citizenship and sustainability initiative with more than 8,000 participants from the private and public sectors, and civil society.

The Global Compact is based on 10 globally accepted principles (annex 1) covering human rights, labour standards, the environment and anti-corruption. The two main objectives of the initiative are to mainstream the ten principles in business activities and to catalyze actions in support of broader United Nations' goals.

As a company participating in the initiative, Lundin Petroleum is expected to:

	Incorporate the principles as an integral part of business strategy, day-to-day operations and organizational culture.
	Incorporate the principles in the decision making process of the Board of Directors.
	Contribute to broad development objectives through partnerships.
	Publish an annual Communication on Progress (COP), which is essentially a disclosure to stakeholders on progress made in implementing the principles and in supporting broader UN development goals.
	Advance the Global Compact and responsible business practices through active outreach to stakeholders and the public at large.

Even before formally joining the initiative, Lundin Petroleum conformed to the ten principles of the Global Compact through its Code of Conduct, Policies and Procedures and its HSE Management System ("Green Book"). However, by participating in the initiative, Lundin Petroleum wishes to further demonstrate its commitment to high standards of corporate citizenship and to provide stakeholders an additional and visible assurance of this commitment.

Lundin Petroleum is committed to making the Global Compact part of its business strategy, culture and day-to-day operations. Lundin Petroleum will publish its annual COP starting spring 2011.

Further information regarding the Global Compact is available on www.unglobalcompact.org.