Lundin, Marathon to explore off Norway

By OGJ editors
HOUSTON, Dec. 27 -- Lundin Petroleum AB plans to pursue a proactive exploration and appraisal strategy on the Norwegian Continental Shelf and has entered a rig contract partnership with Marathon Petroleum Co. (Norway).

The partners have agreed to pay $310 million for use of Songa Offshore ASA's Songa Dee semisubmersible. They will share the rig utilization on a 50:50 basis.

The 2-year contract is scheduled to begin in late 2008 or early 2009. The partners have an option to extend the contract for up to 1 year.

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