Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/mergers_acquisitions/brynhild-transaction-between-lundin-norway-and-cap.shtmlBrynhild Transaction Between Lundin Norway and CapeOmega
Lundin Petroleum AB has announced that its wholly owned subsidiary Lundin Norway AS has on 27 June 2017 entered into a sales and purchase agreement with CapeOmega AS to divest...
Edit page New page Hide edit links
Lundin Petroleum AB has announced that its wholly owned subsidiary Lundin Norway AS has on 27 June 2017 entered into a sales and purchase agreement with CapeOmega AS to divest a 39% working interest in the Brynhild field in PL148 in the Norwegian North Sea.
Lundin Norway will retain operatorship and following the transaction will have a 51% working interest in the Brynhild field, a subsea tie-back oil field to the Shell operated Pierce field on the UK Continental Shelf.
Existing partner CapeOmega will increase its working interest in the Brynhild field from 10 to 49%.
The transaction involves a consideration of NOK 774 million, including historic tax and uplift balances and the effective date of the transaction is 1 January 2017.
The transaction is subject to customary Norwegian government, as well as Lundin Petroleum lender, approvals.
