Lundin Takes Bigger Brynhild Slice Offshore Norway

Lundin has entered into an agreement with Norwegian Energy Company ASA (Noreco) to acquire an additional 20 percent interest in license PL148 containing the Brynhild field, offshore Norway. Following the acquisition, Lundin Petroleum will hold a 70 percent interest in PL148.

The Plan of Development for Brynhild was approved by the Norwegian government in November 2011. The Brynhild field is forecast to produce first oil in late 2013 at a gross plateau production of 12,000 barrels of oil per day.

The transaction is subject to the approval of the Norwegian authorities.