Lundin announced on 28 June 2017 that it had sold a 39% interest in PL 148 to Cape Omega for NOK 774 million (USD 91.5 million). PL 148 contains the Brynhild oil field which has been producing since 2014 as a subsea tie-back to the UK sector Pierce field. Confirmation of completion of the deal was given by the NPD on 1 December 2017 (the transfer takes effect from 30 November 2017). Brynhild was discovered by Statoil in 1992 and was the first Jurassic find in the area along the eastern edge of the Central Graben. A DST flowed at 5,000 b/d of 36 API oil from the Upper Jurassic Ula Formation. Appraisal well 7/7-3, drilled the following year, was intended to confirm the new geological model but brought disappointing results (only shows). Lundin took over operatorship of the licence in 2004 and drilled appraisal well 7/4-2 in 2008. The positioning of 7/4-2, 2km north of the Brynhild discovery well, aimed to prove significant upside by evaluating the OWC (not found in the discovery well) and reservoir thickness and quality. The well was successful and proved the field's commerciality.  Brynhild is tied-back to the âHaewene Brimâ FPSO which is located at the Shell-operated Pierce field where the oil is processed and stored before offloading to shuttle tankers. In February 2016 Lundin reported that the reserves for Brynhild had been reduced from 23 MMboe to just 7.4 MMboe. Data acquired from the producing wells showed that the connected hydrocarbon volumes were lower than previously thought.  Following completion of the deal interests in PL 148 are divided between Lundin Norway AS (51% + operator) and CapeOmega AS (49%). Â 
Norway (Cod Terrace (Central Graben)) Ula