STOCKHOLM -- Lundin Petroleum is acquiring Talisman's 10% interest in PL265 in the North Sea. The license contains the Ragnarrock oil and gas discovery close to Lundin's Luno discovery in PL338.
At the same time, Talisman will acquire a 10% interest in licenses PL438, PL490, and PL492 in the Barents Sea from Lundin. Following the deal, Lundin Petroleum will retain 25%, 30% and 30%, respectively, in the licenses.
The transactions are subject to approval by the Norwegian government.
Lundin, Talisman trade North Sea interests
Lundin Petroleum is acquiring Talisman's 10% interest in PL265 in the North Sea.