Edvard Grieg field

Lundin Norway AS has announced that it will acquire an additional 15% stake in the Edvard Grieg oil field in the Norwegian North Sea and associated pipeline assets from Statoil Petroleum AS (Statoil Norway) to expand its asset base in offshore Norway.

Lundin has agreed to pay $466.56m for the deal, which is anticipated be funded through issue of new shares to Statoil.

The disinvestment will allow Statoil to increase its indirect exposure to key assets including Edvard Grieg and Johan Sverdrup fields.

Nordic American Tankers Limited has agreed to pay $106m to acquire four Suezmax tankers built in Japan, from an undisclosed company.

The new fleet includes two 2004-built, a 2003-built and a 2000-built crude oil tanker. Delivery is due in July.

The purchase will help expand Nordic American’s shipping operations, while increasing total fleet size to 30.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Lundin Petroleum AB has announced the issue of 3,735,309 shares through a private placement. The issue will be subscribed by Statoil ASA, andl raise gross proceeds of $68m.

The placement involves the issue of treasury shares and new shares, and is scheduled for completion by July.

Image: Edvard Grieg field is located in the central North Sea, 180km west of Stavanger, Norway. Photo: courtesy of Statoil.