Lundin Petroleum completes Edvard Grieg acquisition transaction

Following the announcement earlier Lundin Petroleum AB is now pleased to announce the completion of the acquisition by Lundin Norway AS from Statoil Petroleum AS of an additional 15 percent 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 2,000,000 shares held in treasury and issued 1,735,309 new shares to Statoil ASA in exchange for a cash consideration of approximately USD 64 million (SEK 544 million).

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

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

Lundin Petroleum is a Swedish independent oil and gas exploration and production company with a well balanced portfolio of worldclass assets primarily located in Europe and South East Asia. The Company is listed on NASDAQ Stockholm (ticker "LUPE").

Lundin Petroleum has proven and probable reserves of 685 million barrels of oil equivalents (MMboe) as at 31 December 2015.

 

For further information, 
please contact: 
Maria Hamilton Head of Corporate Communications 
This email address is being protected from spambots. You need JavaScript enabled to view it.  
Tel: +41 22 595 10 00 
Tel: +46 8 440 54 50 
Mobile: +41 79 63 53 641 

Teitur Poulsen 
VP Corporate Planning & Investor Relations 
Tel: +41 22 595 10 00

 

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