Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/lundin-enters-into-farmout-agreement-for-pl409-off.shtmlLundin enters into farmout agreement for PL409 offshore Norway
Lundin Petroleum AB has entered into a farmout agreement with Bayerngas Norge AS (Bayerngas) in respect of license PL409.
Lundin Petroleum AB has entered into a farmout agreement with Bayerngas Norge AS (Bayerngas) in respect of license PL409.
Bayerngas will acquire a 20 percent interest in PL409 in block 16/7 on the Norwegian Continental Shelf. PL409, located south of the Luno Area and east of the Sleipner field contains several prospects and leads.
The farmout agreement is subject to approval by Norwegian authorities.
Lundin Petroleum is the operator of PL409 and will have 70 percent working interest after the farmout to Bayerngas. StatoilHydro will have the remaining 10 percent.