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Our Swedish-Norwegian mammoth

Lundin Petroleum’s share price has risen by nearly 7000 per cent since it was listed on the stock exchange in 2001, primarily due to good Swedish-Norwegian collaboration. Swedish capital and Norwegian expertise; a recipe for success that was tested as early as in 1905, when Swedish investments contributed to the founding of Norsk Hydro. Entrepreneur Sam Eyde wanted to take a chance on nitrogen-based fertiliser, but Norway lacked the capital. Through contacts from his university days in Stockholm, he got in touch with Marcus Wallenberg and his family, who invested heavily in what became the industrial adventure that is Norsk Hydro, and later also Yara.

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Fully rigged for more discoveries

It all started when Lundin Norway was to drill a single well, its first, in 2007. Demand for rigs was high, and it was very difficult to sign a rig contract for a single well programme. The problem was solved by forming a consortium with six other oil companies. This enabled the consortium to sign a three-year agreement for the Bredford Dolphin rig, which was positioned in the British sector at that time. The rig had to be upgraded before it could be approved for use on the Norwegian shelf.

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