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LUNE - Lundin Energy AB News Story

SEK268.4 -2.6  -1.0%

Last Trade - 30/07/21

Large Cap
Market Cap £6.47bn
Enterprise Value £8.76bn
Revenue £2.76bn
Position in Universe 120th / 1858

UPDATE 1-Norway awards Arctic exploration permits in widening search for oil

Wed 23rd June, 2021 11:53am
(Adds companies, detail)
    OSLO, June 23 (Reuters) - Norway has awarded four
exploration licences to seven oil companies in its
Arctic-focused 25th licensing round, the government said on
Wednesday as the country aims to continue to pump hydrocarbons
for decades to come.
    So-called numbered licensing rounds cover previously
unexplored frontier areas of Norway's continental shelf,
expanding the geographical reach of its oil and gas industry.*:nL5N2NT29Z
    Three of the permits are in the Arctic Barents Sea, while
the third is located further south, in the Norwegian Sea.
    Norway's plans to continue with exploration in the Arctic
and elsewhere have been criticized by environmentalists who say
they contradict the Nordic country's international pledges to
reduce greenhouse gas emissions.*:nL8N2J21QB
    Equinor  EQNR.OL  received stakes in two of the permits, and
will be the operator for both. Eni's  ENI.MI  Vaar Energi and
Ineos E&P will each operate one licence.
    Royal Dutch Shell  RDSa.L , Idemitsu  5019.T , Lundin Energy
and OMV  OMVV.VI  also received stakes in the same blocks, but
will not be operators.

 (Reporting by Terje Solsvik, editing by Nora Buli)
 ((; +47 9027 6699; Reuters
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