Statoil ASA and Lundin Petroleum have completed their previously announced transaction, whereby Statoil has sold its entire 15 percent interest in the Edvard Grieg field for an increased shareholding in Lundin Petroleum.
The transaction also included the divestment of associated pipeline interests and a cash consideration of approximately USD 64 million . In exchange, Statoil has received 31,316,115 new shares and treasury shares in Lundin Petroleum.

The transaction was approved by Lundin Petroleum AB’s Extraordinary General Meeting on 30 May 2016 and has received the required authority approvals.

Following completion of the transaction Statoil will own approximately 68.4 million shares of Lundin Petroleum, corresponding to 20.1 percent of the shares and votes. The economic effective date for the divestment of these assets is 1 January 2016.

About Lundin Petroleum

Lundin Petroleum is a Swedish independent oil and gas exploration and production company with a well balanced portfolio of worldclass assets primarily located in Europe and South East Asia. The Company is listed on NASDAQ Stockholm (ticker "LUPE"). Lundin Petroleum has proven and probable reserves of 685 million barrels of oil equivalents (MMboe) as at 31 December 2015.
About Statoil

Statoil ASA (OSE: STL, NYSE: STO) is an international energy company with operations in 36 countries. Building on 40 years of experience from oil and gas production on the Norwegian continental shelf, we are committed to accommodating the world's energy needs in a responsible manner, applying technology and creating innovative business solutions. We are headquartered in Stavanger, Norway, with approximately 23,000 employees worldwide, and are listed on the Oslo and New York stock exchanges.