Statoil raises Lundin share
Norway Lundin platform
As part of the Lundin transaction, Statoil will divest its 15% share in the offshore Edvard Grieg field, as well as shed its interests in accompanying pipelines, the Edvard Grieg oil conduit (9%) and the Utsira High gas line (6%). The Marcellus divestment, expected to be finalised in July, is valued at USD 407 million in cash.
“The increased shareholding in Lundin Petroleum will be an important long-term industrial investment for Statoil. The transaction also underlines our long-term interest and commitment to the future of the NCS,” Statoil executive vice-president and chief financial officer Hans Jakob Hegge said.
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