Lundin Receives Edvard Grieg Acquisition Approval from Energy Ministry
The Norwegian Ministry of Petroleum and Energy has granted Lundin Norway AS approval to acquire an additional 15 percent interest in the Edvard Grieg field, and interests in associated pipeline assets, from Statoil Petroleum AS.
Following the approval, Lundin Petroleum now expects to complete the transaction June 30, 2016.
The Edvard Grieg field is located in the Utsira High area in the central North Sea. The field’s gross 2P reserves are estimated at 187 million of barrels of oil equivalents and gross plateau production is expected to be 100,000 barrels of oil equivalents per day.
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