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Statoil aquires shares in Lundin

CEO in Statoil Eldar SætreStatoil has acquired 11.9 percent of the shares in the oil company Lundin Petroleum. The price tag is 4.6 billion Swedish kronor.

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Statoil has acquired 11.9 percent of the shares in the oil company Lundin Petroleum. The price tag is 4.6 billion Swedish kronor.
The investment in Lundin Petroleum will increase Statoil’s indirect exposure in key fields on the Norwegian shelf as Johan Sverdrup and Edvard Grieg, said the Norwegian oil and gas group.

– We see this as a long-term investment. Norwegian Continental Shelf is the backbone of our operations, and this transaction strengthens our indirect share of value added from central and attractive oil fields on the Norwegian shelf, says CEO Eldar Saetre in Statoil.

 

Source: NTB scanpix/ Norway Today

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