Lundin Petroleum AB has entered into an agreement with Talisman Energy Norge AS to acquire an additional 30 percent interest in PL148 containing the Brynhild field, offshore Norway. Following the acquisition, Lundin Petroleum will hold a 100 percent interest in PL148.

The Plan of Development for the Brynhild field was approved by the Norwegian government in November 2011 and execution of the project is proceeding. 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.

Tags: Lundin Petroleum