Completion of Wisting acquisition

Lundin Energy AB (Lundin Energy) is pleased to note the completion of the previously announcedtransactionto acquire a further 25 percent working interest from OMV (Norge) AS in the Wisting development , for USD 320 million . Lundin Energy has also entered in to a cooperation agreement with Equinor ASA (Equinor) regarding the operatorship of Wisting and nearby exploration licences.The transaction to acquire a further 25 percent working interest in the...

Stockholm, 17/12/2021 (informazione.news - comunicati stampa - energia)

Lundin Energy AB (Lundin Energy ) is pleased to note the completion of the previously announced transaction to acquire a further 25 percent working interest from OMV (Norge) AS in the Wisting development , for USD 320 million . Lundin Energy has also entered in to a cooperation agreement with Equinor ASA (Equinor) regarding the operatorship of Wisting and nearby exploration licences.

The transaction to acquire a further 25 percent working interest in the Wisting development has completed following the closing of all pre-requisite conditions, including regulatory and government approvals and is effective from 1 January 2021. In addition, Lundin Energy has concluded a cooperation agreement with Equinor for the Wisting development with the following key terms, which will see Lundin Energy:

This agreement further strengthens the relationship between Equinor and Lundin Energy and sets out a strong collaboration for exploration and operations in what will be the next Barents Sea production hub.

Wisting Acquisition Highlights:

(1) O peratorship and additional working interest in licences PL11 3 3 (15 percent) and PL1134 (5 percent) as well as for licence applied for in the 2021 APA round

For further information, please contact:

Edward Westropp
VP Investor Relations and Communication
Tel: +41 22 595 10 14
edward.westropp@lundin-energy.com

Robert Eriksson
Director Media and Corporate Affairs
Tel: +46 701 11 26 15
robert.eriksson@lundin-energy.com

Lundin Energy is an experienced Nordic oil and gas company that explores for, develops and produces resources economically, efficiently and responsibly. We focus on value creation for our shareholders and wider stakeholders through three strategic pillars: Resilience, Sustainability and Growth. Our high quality, low cost assets mean we are resilient to oil price volatility, and our organic growth strategy, combined with our sustainable approach and commitment to decarbonisation, firmly establishes our leadership role in a lower carbon energy future. (Nasdaq Stockholm: LUNE). For more information, please visit us at www.lundin-energy.com or download our App www.myirapp.com/lundin

Forward-looking statements

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