Petrolia Norway AS, a 100% subsidiary of Petrolia SE, has entered into an agreement with Lundin Norway AS to purchase 10% in PL 546 in the Greater Alvheim Area.
PL546 is located north and adjacent to PL501 Johan Sverdrup in the Norwegian Sector of the North Sea. The transaction is pending approval from the authorities.
The companies did not disclose financial details of the transaction.
January 15, 2014