Bayerngas acquires NCS block interest

Bayerngas has acquired a 20% interest in PL409 on the Norwegian continental shelf from Lundin Petroleum.

Offshore staff

STOCKHOLM -- Bayerngas has acquired a 20% interest in PL409 on the Norwegian continental shelf from Lundin Petroleum. The block 16/7 license, south of the Luno Area and east of the Sleipner field, contains several prospects and leads, according to Lundin.

Lundin Petroleum is the operator of PL409 and will have 70% working interest after the farmout. StatoilHydro will hold the remaining 10%.

The farmout agreement is subject to approval by Norwegian authorities.

10/01/2009

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