14/01/2016at 08:04

Statoil buys large stake in Lundin Petroleum

Statoil has bought a stake in competitor Lundin Petroleum, in which the Norwegian oil major now owns 11.93 percent of the shares. The move will increase Statoil's exposure to core activities on the Norwegian Shelf, including the giant Sverdrup field.

BY KATRINE GRØNVALD RAUN

Norwegian oil major Statoil has acquired a stake in Swedish competitor Lundin Petroleum, which is also one of the partners in the large Johan Sverdrup field, informs the company in a press release.

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