Lundin Petroleum may Forfeit Piece of Sudanese Licence - report
August 2, 2007 (STOCKHOLM) — Lundin Petroleum AB and Petronas, may be forced to give up a piece of their Block 5B licence in Sudan, to the south Sudanese government and the Moldavian oil company Ascom to end a long-running dispute and clear the way for drilling, the newspaper Dagens Industri reported.
"We have a 24.5 pct stake and as I see it, we can end up with a little dilution to bring in the south Sudanese government, and Ascom, depending on which type of deal we make with them. But it will have no big impact on our ownership proportion and the important thing is that we can start drilling," Lundin Petroleum chief executive Ashley Heppenstall said.
Block 5B is south Sudan is one of Lundin Petroleum’s most important assets, and has potential reserves of over 2 bln barrels, of which Lundin’s proportion is 500 mln barrels.
A deal would decrease uncertainty regarding the rights to the oil and clear the way for drilling this year, the newspaper said.
- Database Search
- Unpaid Debt A comprehensive overview of the role of the Lundin Consortium in the oil war. ECOS calls upon the Swedish, Austrian and Malaysian governments to investigate whether, as a matter of international law, Lundin, OMV and Petronas 'were complicit in the commission of war crimes and crimes against humanity by others during the period 1997-2003.’ In response, the Swedish Public Prosecutor for International crimes opened a criminal investigation into ‘links between Sweden and the reported crimes’.
- In Depth For more specific information about the Lundin court case please visit the Unpaid Debt dossier.
