Lundin Petroleum Acquires 35% Interest in Norway’s PL674

Lundin Petroleum announced it entered into agreements to acquire a 35% interest in PL674 from Petrolia Norway and E.ON.

‘Lundin Norway will acquire a 15% interest in PL674 from Petrolia Norway AS and a 20% interest of a carve out area of PL674 from E.ON. The effective date for both transactions is 1 January 2014,’ reads a note released on Tuesday. 

The Sweden-based company said that the licence covers an area of 1,027 square kilometres, not far from the Johan Sverdrup field.   

E.ON is currently the operator of PL674 with a 50% interest and Petrolia Norway AS holds the remaining 50% interest.