Gulf Oil and Gas accountACCOUNT

Lundin Petroleum Sells Assets in the Komi Region, Russia

Source: www.gulfoilandgas.com 7/10/2014, Location: Asia

Lundin Petroleum AB has entered into an agreement with Arawak Energy Russia BV (Arawak), to sell Lundin Petroleumís entire interests in the Sotchemyu-Talyu and the North Irael Fields, Komi Region, Russia.

Lundin Petroleum holds a 50 percent interest in each of the two fields, with Arawak holding the other 50 percent interest and acting as the operator. In respect of the two fields, Lundin Petroleum reported aggregate net reserves of 6.1 million barrels of oil equivalent (boe) as at 31 December 2013, and net production for the first half of 2014 is estimated at 2,150 boe per day (boepd).

Assuming the sale of the two fields completes in July 2014, Lundin Petroleumís revised full year 2014 production guidance is between 24,000 and 29,000 boepd. As a result of the transaction, Lundin Petroleum will incur a non-cash financial expense of USD 12.5 million in the period ended 30 June 2014 related to the carrying value of these interests and the related funding loans.

For more information about related Opportunities and Key Players visit Caspian Region Projects

Acquisitions and Divestitures News in Russia >>

Argentina >>  4/17/2019 - Equinor adds seven offshore exploration blocks to its portfolio, after presenting winning bids in the 1st Offshore Licensing Round in Argentina. ...
Argentina >>  4/16/2019 - Qatar Petroleum has won exploration rights in five offshore blocks in the North Argentina, and Malvinas West basins in Argentina. ...

Russia >>  4/16/2019 - Gazprom Neft subsidiary Gazpromneft-Zapolyarye has concluded long-term risk-based operator agreements with Gazprom PJSC subsidiaries, allowing the com...
United Kingdom >>  4/16/2019 - Union Jack Oil plc (UJO), a UK focused on-shore hydrocarbon production, development and exploration company is pleased to announce that it has conditi...

United Kingdom >>  4/16/2019 - Europa Oil & Gas (Holdings) plc, the UK and Ireland focused exploration, development and production company, is pleased to announce it has conditional...
Mexico >>  4/15/2019 - MODEC, Inc. ("MODEC), Mitsui & Co., Ltd. and Mitsui O.S.K. Lines, Ltd. (MOL) jointly announce that Mitsui and MOL have participated in a long-term ch...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Russia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 |

Oil & Gas Projects in Russia >>

More News

Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.