November 30, 2021

Lundin Energy's platform in the North Sea, offshore Norway - File Photo: Lundin Energy

Lundin Energy’s platform in the North Sea, offshore Norway – File Photo: Lundin Energy

Swedish oil and gas company Lundin Energy is considering a potential sale, Bloomberg News reported on Monday, citing unnamed sources.

Lundin, which has a market value of about $10 billion, is studying strategic alternatives that could also include a merger or asset disposals, the report said.

Responding to what it called market rumours, Lundin said it “continuously engages” in opportunities and discussions that could be of value to its owners.

“As of today there are no conclusive decisions that have been made in relation to any such discussions,” the company said in a statement.

The company’s shares rose 10% in Stockholm trade.

Lundin’s oil and gas operations are all in Norway, where it owns a 20% stake in the Equinor-operated Johan Sverdrup field as well as a range of smaller fields. 

(Reporting by Nerijus Adomaitis Editing by Terje Solsvik, David Goodman and David Evans)

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