Equinor and Lundin have completed both parts of the transaction announced on 7 July 2019. This follows all transaction conditions being met, including government and regulator approvals.

The overall result is that Equinor has divested a 16 percent shareholding in Lundin for a direct interest of 2.6 percent in the Johan Sverdrup field and a cash consideration of around USD 650 million.

The first part, Sparebank1 Markets’ acquisition of around 54.5 million shares in Lundin Petroleum AB from Equinor ASA, concluded on 5 August and followed the approval of the transaction in Lundin Petroleum AB’s Extraordinary General Meeting on 31 July 2019.

The second part, Equinor Energy’s acquisition of a 2.6 percent interest in the Johan Sverdrup field from Lundin Norway AS, concluded on 30 August. The effective date of this acquisition is 1 January 2019.

About Equinor

Equinor, is an international energy company with a proud history. Formerly Statoil, we are 20,000 committed colleagues developing oil, gas, wind and solar energy in more than 30 countries worldwide. We’re the largest operator in Norway, among the world’s largest offshore operators, and a growing force in renewables. Driven by our Nordic urge to explore beyond the horizon, and our dedication to safety, equality and sustainability, we’re building a global business on our values and the energy needs of the future.

About Lundin Petroleum

Lundin Petroleum is one of Europe’s leading independent oil and gas exploration and production companies with operations focused on Norway and listed on Nasdaq Stockholm (ticker "LUPE").