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Russia's Lukoil to get 20% stake in Norway offshore development project — ministry

Stakes in the offshore license PL858 were also acquired by Det Norske - 40% (project operator), Statoil and Petoro AS - 20% each

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MOSCOW, May 18. /TASS/. Lukoil Overseas North Shelf AS, a subsidiary of the Russian oil major Lukoil, obtained a 20% stake in an offshore development project in Norway, Norwegian Ministry of Petroleum said on Wednesday.

Stakes in the offshore license PL858 were also acquired by Det Norske - 40% (project operator), Statoil and Petoro AS - 20% each.

"Today, we are opening a new chapter in the history of the Norwegian Petroleum industry. For the first time in twenty years, we offer new acreage for exploration. This will contribute to employment, growth and value creation in Norway," Norway’s Petroleum Minister Tord Lien said commenting on issue of licenses.

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Oil & Gas Norway

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