Oil majors seal Johan Sverdrup deal
A deal is now finalized, in which Equinor will take over 2.6 percent of the Johan Sverdrup field from Lundin and also sell 16 percent of its Lundin stake back to the Swedish company.
AF MATHIAS JULIUS FALKENGAARD
Nordic oil companies Equinor and Lundin have now officially finalized a swap trade.
The deal involves Equinor selling 16 percent of its Lundin stake back to Lundin.
On the other hand, Equinor gets a bigger share of the Johan Sverdrup field, with the Norwegian company taking a 2.6-percent stake from Lundin. At the same time, Equinor receives payment of USD 650 million as part of the deal, both companies confirmed Friday.
The swap trade was announced on July 7, and on Aug. 5 Equinor’s stock sale went through, while the second part of the deal was realized on Friday.
The official date for the transaction is set as Jan. 1, 2019.
English Edit: Jonas Sahl Jørgensen
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