Arawak Energy to acquire Lundin’s Komi region assets

Arawak Energy Russia BV has agreed to acquire all interests in the Sotchemyu-Talyu and North Irael fields in Russia’s Komi region from Lundin Petroleum AB.

Arawak Energy Russia BV has agreed to acquire all interests in the Sotchemyu-Talyu and North Irael fields in Russia’s Komi region from Lundin Petroleum AB.

Arawak, as operator, currently holds 50% interest in each of the fields while Lundin holds the other 50%.

Lundin’s aggregate net reserves in the fields were 6.1 million boe as of Dec. 31, 2013, and net production for the first half of this year totaled 2,150 boe/d. Upon a July closing of the deal, the company’s revised full-year production guidance would reach 24,000-29,000 boe/d.

Arawak in 2004 took ownership of interest in Sotchemyu-Talyu when the company purchased 50% interest of ZAO PechoraNefteGas from Vitol Russia BV (OGJ Online, July 19, 2004).

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