Swedish oil company Lundin Petroleum AB (LUPE.SK) Tuesday said it has sold its 1.8% stake in Nogat BV to a subsidiary of Venture Production PLC (VPC.LN) for EUR9 million.

"This was a marginal investment which came with assets we bought in 2002-2003," said Lundin Petroleum spokeswoman Maria Hamilton. "It's not our core business in any way," she added.

Nogat BV is a private company that owns the Nogat pipelines and onshore gas processing terminal at Den Helder. The Nogat pipeline is operated by GDF Suez on behalf of the shareholders of Nogat BV.

Completion of the transaction is subject to the waiver of partner pre-emption rights, but is expected to take place during the third quarter of 2009.

Lundin Petroleum "mainly has stakes in producing (oil and gas) fields," Hamilton said.

The company has a mix of exploration and production assets in Cambodia, Congo, France, Indonesia, Ireland, Malaysia, Netherlands, Norway, Russia, Tunisia, U.K. and Vietnam.

At 0740 GMT, Swedish-listed Lundin was trading down SEK0.50 or 0.9% at SEK55.50.

Company Web site: www.lundin-petroleum.com

-By Elizabeth Adams, Dow Jones Newswires; +44 (0) 20 7842 9386; elizabeth.adams@dowjones.com
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