Lundin strengthens hold on Brynhild in North Sea

Lundin Petroleum has an agreement with Noreco to acquire an additional 20% interest in the Norwegian North Sea license PL148 containing the Brynhild field.

Offshore staff

OSLO, Norway – Lundin Petroleum has an agreement with Noreco to acquire an additional 20% interest in the Norwegian North Sea license PL148 containing the Brynhild field.

Following closure of the transaction, Lundin will have a 70% stake.

Earlier this month the Norwegian government approved the development plan for Brynhild, which should deliver first oil in late-2013, building to a plateau rate of 12,000 b/d.

11/18/2011

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