Lundin
Petroleum completes sale of Block 5A Sudan
Posted: 23 June 2003
Lundin Petroleum AB (“Lundin Petroleum”) is pleased
to announce that it has completed the sale of 40.375 per cent working
interest in Block 5A, Sudan to Petronas Carigali Overseas Sdn Bhd
(“Petronas”).
The cash consideration paid at Completion is USD 142.5 million
adjusted for working capital at 31 March 2003.
Block 5A is located in the Muglad Basin in Southern Sudan and contains
the undeveloped Thar Jath field which contains gross proven and
probable oil reserves of 149.1 million barrels. Lundin Petroleum
will retain its 24.5 per cent in Block 5B in southern Sudan.
Lundin Petroleum is a Swedish independent oil and gas exploration
and production company with a well balanced portfolio of world-class
assets in Albania, France, Indonesia, Iran, Netherlands, Norway,
Sudan, Tunisia and Venezuela. The Company is listed on the New Market
at Stockholmsbörsen, Sweden (ticker “LUPE”).
Posted by Richard Price,
Editor Pipeline Magazine
Information supplied by companies
or PR agencies who are responsible for content. Send press releases
to info@pipelinedubai.com |
