Norway’s Equinor has a swap deal with Sweden’s Lundin Petroleum to divest its 16% stake in Lundin Petroleum for a 2.6% interest in the Johan Sverdrup field and around US $650m in cash. “Since 2016 we have more than doubled the value of our investment in Lundin. This transac- tion gives us the opportunity to capitalize on this value creation, and at the same time increase our direct ownership in the Johan Sverdrup field,” said Eldar Saetre, President and CEO of Equinor.
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