Skip to main content

Completion of Edvard Grieg acquisition transaction

Published by
Oilfield Technology,


Following the announcement made last week, Lundin Petroleum AB (Lundin Petroleum) has now announced the completion of the acquisition by Lundin Norway AS from Statoil Petroleum AS of an additional 15% interest in the Edvard Grieg field, PL338 and interests in associated pipeline assets.

In consideration for the acquisition of these assets, Lundin Petroleum has today issued 27 580 806 new shares of Lundin Petroleum to Statoil ASA. In addition, Lundin Petroleum has transferred 2 million shares held in treasury and issued 1 735 309 new shares to Statoil ASA in exchange for a cash consideration of approximately US$64 million (SEK 544 million).

Statoil ASA now owns approximately 68.4 million shares of Lundin Petroleum, representing 20.1% of the 340 386 445 issued and outstanding shares of Lundin Petroleum.

Lundin Norway AS is the operator of PL338 with a 65% working interest. The partners are OMV Norge with 20% and Wintershall Norge with 15%.


Adapted from press release by Francesca Brindle

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/06072016/statoil-sells-15-percent-interest-in-edvard-grieg-field-to-lundin-norway-291/

You might also like

AqualisBraemar LOC to provide marine warranty survey services for new gas FPSO

AqualisBraemar will provide 3rd party review and approval of marine operations relating to the following: hull construction in Korea, transportation from Korea to Singapore, topside module transportation and integration in Singapore, installation of the STP buoy and moorings, and tow to field and offshore hook-up of the FPSO.

 
 

Embed article link: (copy the HTML code below):


 

This article has been tagged under the following:

Oil & gas news