Lundin Petroleum Increases Ownership in the Brynhild Field Offshore Norway

 

Lundin Petroleum AB (Lundin Petroleum), through its wholly owned subsidiary Lundin Norway AS (Lundin Norway), is pleased to announce the completion of the agreement with Talisman Energy Norge (Talisman Norge) to acquire a 20 percent interest in the Brynhild field, offshore Norway. Following the acquisition, Lundin Petroleum holds a 90 percent interest in the Brynhild field.

The original agreement, as announced on the 5th March 2012, did not close. Subsequently the agreement has been amended such that Lundin Norway has acquired a 20 per cent interest from Talisman Norge with Talisman Norge retaining 10 percent in the field.

The amended agreement, which has an effective date of 1 January 2012, has been approved by the Norwegian authorities.

The Brynhild field is forecast to produce first oil in the fourth quarter of 2013 at a gross plateau production of 12,000 barrels of oil equivalent per day.