Lundin revealed Friday it would sell its subsidiary which owns the floater to M3nergy for a cash consideration of $265 million.
"We are very pleased to be doing this deal with M3nergy, an experienced Malaysian FPSO owner,” Lundin chief executive Alex Schneiter said.
“Owning infrastructure assets is not part of Lundin Petroleum's core strategy and this transaction will allow us to redeploy this capital into other areas of our business to fund our value driven growth."
Lundin
