Sweden-based Lundin Petroleum has entered into an agreement to acquire a 30% interest in a production license located in the northern Norwegian Sea from RWE Dea Norge.

The license, PL330, covers an area of about 740 square kilometers and comprises blocks 6608/1 & 2.

Marathon Petroleum Norge will also acquire a 30% interest in PL330, and RWE Dea will continue to operate the license with a 40% interest.

The closing of the transaction is subject to approval by the Norwegian government.

According to Lundin Petroleum, PL330 is located in an underexplored part of the Norwegian Sea where structures with a significant hydrocarbon potential have been identified.