Det Norske seals Jotun deal

Det Norske Oljeselskap has completed a deal with Lundin to take a 70% stake in production licence 103B off Norway, giving it a 7% slice of the producing Jotun oil and gas field. Lundin agreed a deal in March to sell the 7% interest to Det norske oljeselskap for US $14m. The Jotun field started production in 1999 and is producing to the Jotun FPSO via 12 development wells. The proven and probable reserves (2P) net to Lundin Petroleum in Jotun was 0.9m boe as at 1 January 2008 with no associated contingent resources attributable to the field.