Following the announcement earlier, Lundin Petroleum AB (Lundin Petroleum) is now pleased to announce the completion of the acquisition by Lundin Norway AS from Statoil Petroleum AS of an additional 15 percent interest in the Edvard Grieg field, PL338 and interests in associated pipeline assets. In consideration for the acquisition of these assets, Lundin Petroleum has today issued 27,580,806 new shares of Lundin Petroleum to Statoil ASA. In addition, Lundin Petroleum has transferred 2,000,000 shares held in treasury and issued 1,735,309 new shares to Statoil ASA in exchange for a cash consideration of approximately USD 64 million (SEK 544 million).
Statoil ASA now owns approximately 68.4 million shares of Lundin Petroleum, representing 20.1 percent of the 340,386,445 issued and outstanding shares of Lundin Petroleum.
Lundin Norway AS is the operator of PL338 with a 65 percent working interest. The partners are OMV Norge with 20 percent and Wintershall Norge with 15 percent.
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.