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Equinor: Lundin completes sale of stake in oil field

(CercleFinance.com) - After obtaining regulatory approvals in Norway, Lundin has completed the sale of a 2.
6% stake in the Johan Sverdrup development project to Norway's Equinor, the Swedish oil company said on Friday.

In July, Equinor agreed to sell a stake of about 16% in Lundin Petroleum for a direct interest of 2.6% in the giant Johan Sverdrup oil field development, and around 650 million dollars in cash.

Equinor will now control 42.6% of the Johan Sverdrup project, one of the five largest oil fields on the Norwegian continental shelf. Lundin has a 20% interest.

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