Our history

A Lundin Group Company

The Lundin family have been involved in oil exploration and production for forty years. International Petroleum Corporation (IPC) can trace its roots back to the 1980’s when Adolf Lundin created the original IPC, operating in countries such as Oman, UAE, Vietnam, Malaysia and Libya to name a few. The following history gives an overview of how the current IPC was born and the key events that have occurred more recently.


In 2023, IPC sanctioned the Blackrod Phase 1 oil field development. Phase 1 development capital expenditure is estimated at 850 MUSD and targets 218 million barrels of 2P reserves. First oil is expected late 2026 and forecast to reach plateau of 30,000 bopd by 2028.