Norway: Lundin Buys Brynhild Stake from Talisman

Norway: Lundin Buys Brynhild Stake from Talisman

Lundin Petroleum AB has entered into an agreement with Talisman Energy Norge AS to acquire an additional 30 percent interest in PL148 containing the Brynhild field (previously knowns as Nemo), offshore Norway.

Following the acquisition, Lundin Petroleum will hold a 100 percent interest in PL148. In November 2011, Lundin also acquired 20% interest in Brynhild field from Noreco.

The Plan of Development for the Brynhild field was approved by the Norwegian government in November 2011 and execution of the project is proceeding. Maersk Drilling, Aker Solutions and Technip have been hired to support the development.

The Brynhild field is situated approximately 210 km from the Norwegian mainland, near the Norway-United Kingdom border. The development of Brynhild will be a three well subsea tie-back to the Pierce FPSO located in the United Kingdom, 38 km south of the field. First production is expected in in late 2013 at a gross plateau production of 12,000 barrels of oil per day.

Offshore Energy Today Staff, March 5, 2012; Image: Statoil