Lundin Petroleum has entered into a farm-out agreement for a 30% working interest in the Gemini prospect.
The company’s wholly-owned subsidiary, Lundin Norway, has signed the deal with Lime Petroleum Norway.
PL338C contains the Gemini prospect which is currently being drilled with the Island Innovator rig.
Following the transaction, which is subject to government approval, Lundin Norway will hold an operated 50% working interest, while Lime Petroleum will hold 30% and OMV Norge will hold a 20% share.
Last month, Lundin Petroleum spudded an exploration well on the Gemini Prospect of the Edvard Grieg field.
The company’s subsidiary Lundin Norway said well 16/1-24 in PL338C will investigate the hydrocarbon potential of the prospect.
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