Ian Lundin graduated from the University of Tulsa in 1982 with a Bachelor of Science in Petroleum Engineering. Upon graduation he joined Wintershall AG and was posted in northern Greece on an offshore high sulphur oil and gas field. He worked for one year on this project as a trainee drilling engineer and was exposed during that time to various well control situations and solving hole problems.

In 1984 he joined the Lundin Group via International Petroleum Corporation (“IPC”) as Drilling Manager. After being in charge of several drilling operations in Egypt and the United Arab Emirates, he was put in charge of worldwide operations in 1986. For 5 years he planned and executed exploration wells in Papua New Guinea, Thailand, Oman and the U.A.E. In 1990 he was appointed President and Chief Executive Officer of IPC. As CEO, he oversaw the discovery and development of oil and gas fields in Oman, Malaysia, Libya and P.N.G. He also initiated the company’s involvement in Sudan and the acquisition (and subsequent sale) of the Welton field, onshore U.K.

In 1998, the two Lundin group companies Sands Petroleum AB and IPC merged to form Lundin Oil AB and Ian was appointed CEO. Sands was actively involved in the U.K. sector of the North Sea as well as in Malaysia at the time of the merger. Lundin Petroleum came into existence as a result of the SEK 4 billion takeover of Lundin Oil by Talisman Energy Inc. The shares of Lundin Petroleum commenced trading on the New Market in Stockholm in September 2002. Ian continued to act as C.E.O. of the new vehicle which had only one exploration licence in Sudan and one in Iran (neither of which ever yielded any hydrocarbons). The Company was refinanced and embarked on an aggressive acquisition, exploration and development programme in the North Sea (UK, Norway and Holland), France, Tunisia, Indonesia and eventually Russia which resulted in what Lundin Petroleum is today.

On 24 May 2002 Ian was appointed Chairman of the Board of Lundin Petroleum AB. Since its inception in 2001 the Company has grown from a market capitalisation of less than SEK 1 billion and no revenues to a market capitalisation of SEK 13 billion and revenues of SEK 6.4 billion (2008).

Historical connections with the Lundin Family and other assignments within the Lundin Group:
Ian Lundin is the second child of Adolf Lundin and he serves on the Board of Vostok Nafta Investment Ltd and is the chairman of Etrion corp. He is the settlor of a trust that holds indirectly 12,038,956 shares in Lundin Petroleum.