Lundin Petroleum NEWS

Norwegian energy major, Equinor has informed about concluding the divestment of its 16% stakes in Lundin Petroleum. First announced in July 2019, the divestment will give Equinor a 2.6% direct ownership share in Johan Sverdrup oilfield. Equinor, which gained $650m out of the deal, will continue to retain a 4.9% stake in Lundin.

The wholly owned subsidiary of Lundin Petroleum AB, Lundin Norway AS has commenced drilling well on the Alta discovery in the southern Barents Sea. The well will be used for extending well testing which will provide relevant information for further developments. Moreover, there is an opportunity for joint development with the adjacent Gohta discovery.

Lundin Norway AS, the wholly owned subsidiary of Lundin Petroleum, has successfully completed the Luno II appraisal well. The well 16/4-11 in PL359 on the Utsira High is in the Norwegian North Sea. The appraisal well is the fifth well on the Luno II oil discovery. The main aim of the appraisal well was to add further resources in the Luno II discovery for growth and development.