Lundin Petroleum has entered into an agreement to sell Lundin’s entire interests in the Sotchemyu-Talyu and the North Irael fields in the Komi Region of Russia to Arawak Energy Russia, the company said in a news release.
Lundin holds a 50% interest in each of the two fields.
Arawak holds the remaining 50 percent interest and acts as operator.
Lundin reported aggregate net reserves of 6.1 million boe from the two fields as of December 31, 2013.
Net production for the first half of 2014 is estimated at 2,150 boepd.
Terms of the sale have not been released.