Lundin Petroleum has agreed to sell its unitized interest in the Jotun oil and gas field to Det Norske Oljeselskap (DNO) for NOK72 million with an effective date of January 1, 2008.
The Jotun field started production in 1999 and is producing to the Jotun floating production storage and offloading vessel via 12 development wells.
The proven and probable reserves net to Lundin Petroleum in Jotun was 0.9 million barrels of oil equivalent as of January 1, 2008 with no associated contingent resources attributable to the field.
The completion of the sale of the 70% interest in license PL103B is subject to government and partner approval.
