CapeOmega set to strengthen stake in North Sea Brynhild field
Lundin Norway has an agreement to sell a 39% interest in the Brynhild field in license PL148 in the North Sea to CapeOmega.
Assuming Norwegian government and other approvals, Lundin would retain a 51% operated stake in the field which it has developed via a subsea tieback to the Shell-operated Pierce FPSO in UK waters.
CapeOmega currently has a 10% interest.
The consideration is NOK774 million ($91.8 million), including historic tax and uplift balances.