2011-06-17-2011-05-25

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Estimated Price
MM
Description

To acquire 30% WI in PL330 in Norwegian Sea.

Lundin Petroleum AB, Stockholm, Sweden, (Toronto: LUP) plans to acquire 30% interest in PL330 in the northern Norwegian Sea through a farm in with RWE Dea Norge AS, a subsidiary of Munich-based RWE Dea AG, a subsidiary of RWE AG, Essen, German, (Frankfurt: RWE) for an undisclosed price.

PL330 covers an area of approximately 740 square kilometers and comprises blocks 6608/1 & 2 PL330. It is in an underexplored part of the Norwegian Sea where structures with a significant hydrocarbon potential have been identified.

RWE Dea is the operator of the license with a 40% interest and Marathon Petroleum Norge AS will also acquire a 30% interest. The transaction is subject to approval by the Norwegian government.