Barents Sea licence awards

The Norwegian Ministry of Petroleum and Energy has issued ten new production licences in the Barents Sea as part of Norway’s 23rd licencing round, following applications made by 26 companies in January. This is the first time since 1994 that new exploration acreage has been made available to the industry in the southeastern Barents Sea.  From the International E&P names: Lundin has been awarded interests in five licences (three...

Read More

Statoil acquires a further stake in Lundin Petroleum

On 14th January, Statoil announced that it had acquired 37.1 million shares in Lundin Petroleum, corresponding to 11.9% of the company. Statoil says that it paid c.SEK4.6 billion for the shares, which equates to a price of SEK120/share or a 28% premium to the share price close as of yesterday at SEK97. Statoil purchased the shares over the past few weeks and says it is supportive of Lundin management, its board of directors and strategy, but there...

Read More