Farm-Out of the Gemini Prospect on the Utsira High of Norway

Source: www.gulfoilandgas.com 2/24/2015, Location: Europe

Lundin Petroleum AB (Lundin Petroleum), through its wholly owned subsidiary Lundin Norway AS (Lundin Norway), has entered into an agreement to farm-out a 30 percent working interest in PL338C.

Lundin Norway has signed a farm-out agreement with Lime Petroleum Norway AS (Lime Petroleum) whereby Lime Petroleum will acquire a 30 percent working interest in PL338C.

PL338C contains the Gemini prospect which is currently being drilled with the Island Innovator rig.

Following this transaction, and subject to government approval, Lundin Norway will hold an operated 50 percent working interest in PL338C with Lime Petroleum holding 30 percent and OMV Norge AS 20 percent.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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