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Energy

Lundin Energy doubles down on Arctic oil with Idemitsu deal

OSLO, Oct 5 (Reuters) - Sweden’s Lundin Energy will buy stakes in several oil discoveries in the Norwegian Arctic Barents Sea from Japan’s Idemitsu in a $125 million deal, Lundin said in a statement on Monday.

The transaction includes a 10% stake in the Wisting oil discovery and a 15% stake in the Alta find, increasing Lundin’s ownership of the latter to 55%, as well as stakes in several exploration prospects, Lundin said. (Reporting by Terje Solsvik; editing by Jason Neely)

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