Sweden-based Lundin Petroleum said Thursday that it has completed an agreement with Canada-based Talisman Energy to acquire 20 percent interest in the Brynhild field, offshore Norway.
Following the acquisition, Lundin holds a 90 percent operated interest in the Brynhild field, while Talisman holds the remaining ten percent interest. The agreement, which has been amended after an earlier proposed deal fell through, has now been approved by Norwegian authorities.
Lundin said in a statement that it aims to bring on stream the field in the fourth quarter of 2013, targeting a gross plateau production of 12,000 barrels of oil equivalent.
Development plans call for three wells to be subsea tied-back to the Haewene Brim floating production storage and offloading (FPSO) located at Shell Pierce field in the UK. The hydrocarbons will be processed at the Pierce FPSO before being offloaded for additional transportation.
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