Lundin Petroleum acquires additional 15 percent interest in the Edvard Grieg field from Statoil
Lundin Petroleum has acquired Statoil’s 15 percent interest in the Edvard Grieg field in production area PL338, offshore Norway, and all associated interests including a nine percent interest in the Edvard Grieg oil pipeline and a six percent interest in the Utsira High gas pipeline. In consideration for the acquisition of the assets, Lundin Petroleum has issued to Statoil 27,580,806 new shares of Lundin Petroleum. In addition, Lundin Petroleum has transferred 2,000,000 shares held in treasury and issued 1,735,309 new shares to Statoil in exchange for a cash consideration.
Lundin Petroleum is an international company active within exploration drilling and production of petroleum and natural gas. The company is listed on Nasdaq Stockholm.
Lundin Petroleum was advised by Mannheimer Swartling in the acquisition. The firm’s team consisted of Thomas Wallinder, Therese Lundgren and Harry Westerman Wood.