Lundin Petroleum AB has arranged for the sale of a 50% stake in its joint venture with Arawak Energy Russia BV which develops two fields in Komi, Lundin Petroleum informed.
The transaction value has not been disclosed.
The proven reserves at the deposits as of the end of 2013 were estimated at 6.1 million barrels. The production output at the sites currently reaches 2.15 thousand barrels per day.
Lundin Petroleum AB is an independent Swedish oil and gas producer operating in Russia, Europe, Africa, and Asia. The company's proven and probable reserves reach 194 million barrels of oil equivalent.
Arawak which is listed on the Toronto Stock Exchange and the LSE has been active in Kazakhstan, Russia and Azerbaijan since 1998.