StatoilHydro farms into Lundin Utsira High licenses
April 3, 2009
StatoilHydro has acquired a 30% interest in exploration licenses PL359 and PL410, both located in the Utsira High area, plus a 10% interest in PL409 from Lundin Petroleum.
Offshore staff
OSLO -- StatoilHydro has acquired a 30% interest in exploration licenses PL359 and PL410, both located in the Utsira High area, plus a 10% interest in PL409 from Lundin Petroleum.
The licenses are in the North Sea close to the Luno discovery in PL338, the Ragnarrock discovery in PL265, and existing StatoilHydro-operated infrastructure on the Sleipner and Grane fields.
The agreement also involves a swap of rig capacity between StatoilHydro and Lundin Petroleum.
The implementation of the agreement is subject to the approval of government authorities.
The present ownership structure is: PL359: Lundin Petroleum 70% (operator), Premier Oil Norge AS 30% PL409: Lundin Petroleum 100% (operator) PL410: Lundin Petroleum 100% (operator)
