• Upstream
  • Pipelines & Transport
  • Downstream
Friday, August 1, 2025
Oil&Gas Advancement
  • Home
  • News
    Hungary Russia Serbia Deal on Imports of Russian Crude Oil

    Hungary, Russia, Serbia Deal on Imports of Russian Crude Oil

    EQT Expands Gas Operations with Olympus Energy Acquisition

    EQT Expands Gas Operations with Olympus Energy Acquisition

    Turkey Iraq Pipeline Deal and Energy Cooperation Plans

    Turkey-Iraq Pipeline Deal and Energy Cooperation Plans

    Aker BP JAPEX Norge Collaborate on North Sea Asset Trade

    Aker BP, JAPEX Norge Collaborate on North Sea Asset Trade

    Eni Ghana Expands Natural

    Eni Ghana Expands Natural Gas for OCTP to Power Ghana

    CNOOC Makes Landmark Offshore Oil Gas

    CNOOC Makes Landmark Offshore Oil & Gas Discovery

    Shell Receives Approval

    Shell Receives Approval for Oil & Gas Drilling Project

    Var Energi Partners with TechnipFMC

    Var Energi Partners with TechnipFMC for Subsea Projects

    Equinor Has Made Gas Discovery Near Major Export Facility

    Equinor Has Made Gas Discovery Near Major Export Facility

  • Projects
    Cloudera and Aramco Plan to Collaborate on AI driven Digital Innovation in Saudi Arabia

    Cloudera and Aramco Plan to Collaborate on AI-driven Digital Innovation in Saudi Arabia

    Eni Ghana Expands Natural

    Eni Ghana Expands Natural Gas for OCTP to Power Ghana

    Var Energi Partners with TechnipFMC

    Var Energi Partners with TechnipFMC for Subsea Projects

    South Africa Proposes

    South Africa Proposes US LNG Purchase Deal for 10 Years

    Alaska LNG

    Glenfarne Announces Over $115 Billion of Strategic Partner Interest for Alaska LNG

    UAE Energy Investments in the US

    UAE Energy Investments in the US to Reach $440B by 2035

    agreements with US companies

    Aramco announces 34 MoUs and agreements with US companies

    Future-proofing-gas-sector

    Future-proofing Gas Sector for Efficiency and Sustainability

    South-Africa-Oil-and-Gas-Exploration

    South Africa Speeding-up its Oil and Gas Exploration

  • Whitepapers

    OGA 2017 Post Show Report

    US Polyethylene Export Market Report 2017-2020

    US Polyethylene Export Market Report 2017-2020

    Embedded SSD Flash Management

    Enterprise SSD: More Than Just a New Kind of Hard Drive

    Efficiency, Visibility and Reliability Keys to lower costs and greater profitability in oil and gas operations

    Don’t Miss the Unconventional Resource Revolution’s Next Wave

    Better Safety, Better Business: Maintain Compliance and Drive Revenue: Put All of Your Data to Work

    Breaking the Application Barrier: Why Data is the Most Valuable Asset in the Oil and Gas Industry

    Drilling Optimization Through Advanced Analytics Using Historical and Real-Time Data

  • Press Releases
    Cloudera and Aramco Plan to Collaborate on AI driven Digital Innovation in Saudi Arabia

    Cloudera and Aramco Plan to Collaborate on AI-driven Digital Innovation in Saudi Arabia

    Youth-Empowerment at Namibia Oil and Gas Conference 2025

    Namibia Oil and Gas Conference 2025 Announces Future Generations Masterclass in Partnership with the Namibia Youth Energy Forum

    Alaska LNG

    Glenfarne Announces Over $115 Billion of Strategic Partner Interest for Alaska LNG

    agreements with US companies

    Aramco announces 34 MoUs and agreements with US companies

    Sinopec Sets New Vertical Well Depth

    Sinopec Sets New Vertical Well Depth Record of 5,300 Meters

    Jubail Asset Integrity

    Jubail to Host the 3rd Asset Integrity and Process Safety Conference & Exhibition 2025

    IPTC 2025 Launched: Driving Innovation, Sustainability, and Excellence in Energy

    Ocean Business announces exhibitor list for 2025 show

    Ocean Business 2025 conference programme announced

  • Market Reports
    AI Technology Maturing the Oil and Gas Workforce

    AI & Technology Maturing the Oil and Gas Workforce

    HDPE Market in Oil and Gas

    HDPE Market in Oil and Gas: Trends and Global Forecast

    Top 5 Oil and Gas Sector Trends that are Active in 2025

    Oil-and-Gas-Analytics

    Oil and Gas Analytics Market Growth Trends and Forecast

    Gas-Transportation

    Transport Capacity – Key to Gas Sector Growth in India

    Offshore-Drilling

    Namibia Showcases its Offshore Drilling Activities

    Global-Oil

    Demand for Global Oil to Grow to Almost 104 mb/d in 2025

    ExxonMobil to sell Norway upstream operations for $4.5 billion

    ExxonMobil completes acquisition of Pioneer Natural Resources

    Ithaca Energy unit to acquire Chevron’s Central North Sea assets

    ExxonMobil doubles Permian footprint after finalizing Pioneer acquisition

  • Events
  • Contact Us
No Result
View All Result
Oil&Gas Advancement
No Result
View All Result
Home Europe

Det norske and BP join forces to grow Norway’s leading independent oil and gas producer

in Europe, Exploration Development, News, Upstream
Share on FacebookShare on Twitter

BP and Det norske oljeselskap announced the creation of Aker BP ASA, an independent oil and gas company combining the assets and expertise from both companies’ Norwegian exploration and production operations to form the largest Norwegian independent oil and gas producer.

 

BP group chief executive Bob Dudley commented: “BP and Aker have matured a close collaboration through decades, and we are pleased to take advantage of the industrial expertise of both companies to create a large independent E&P company. The Norwegian Continental Shelf represents a significant opportunity going forward and we are looking forward to working together with Aker to unlock the long term value of the company through growth and efficient operations. This innovative deal demonstrates how we can adapt our business model with strong and talented partners to remain competitive and grow where we see long-term benefit for our shareholders.”

 

Under the terms of the proposed transaction, the BP Norge and Det norske businesses will combine and be renamed Aker BP ASA. Aker BP will be independently operated and listed on the Oslo Stock Exchange. Aker BP will be jointly owned by current Det norske shareholder Aker (40%), other Det norske shareholders (30%) and BP (30%). BP will also receive a cash payment of $140 million plus positive working capital adjustments as part of the transaction.

Øyvind Eriksen, chairman of the board of directors in Det norske commented: “Aker BP will leverage on Det norske’s efficient operations, BP’s international capabilities and Aker’s 175 years of industrial experience. Together, we are establishing a strong platform for creating value for our shareholders through our unique industrial capabilities, a world-class asset base, and financial robustness.”

 

The completion of the transaction, which is expected by the end of 2016, is subject to customary closing conditions, regulatory review and approval by Det norske shareholders. All of BP Norge’s roughly 850 employees will transfer to the combined organization upon completion of the deal.

 

In addition to the attractive combination of the two companies’ Norwegian asset portfolios, Aker BP will benefit from the combined strength of Det norske’s efficient, streamlined operating model and BP’s long experience in Norwegian offshore operations, asset knowledge, technical skills and international experience. The companies believe this new Norwegian super-independent could organically grow production to more than 250,000 barrels of oil equivalent per day by the early 2020s.

 

About Det norske
Headquartered in Trondheim, Det norske oljeselskap ASA is a rapidly growing independent exploration and production company with exploration, development and production activities on the Norwegian Continental Shelf. Det norske merged with Aker Exploration in 2009 and acquired Marathon Oil Norway in 2014. It employs about 550 people.

 

Det norske is the operator of producing fields Alvheim, Volund, Vilje and Jette. The company is also the operator of the large Ivar Aasen development. The company is also a partner in the Johan Sverdrup field, one of the largest on the Norwegian continental shelf. For more information visit www.detnor.no.

About Aker
Headquartered in Fornebu (Oslo), Aker ASA is a leading Norwegian company that owns interests in subsidiaries in oilfield services construction and marine sectors. Aker owns 49.9% of Det norske (oil and gas producer) along with significant ownership stakes in Aker Solutions (oilfield services) and Kvaerner (oilfield construction) amongst other interests. For more information visit www.akerasa.com.

 

About BP Norge
Headquartered in London, BP is one of the world’s largest integrated oil and gas companies with operations in more than 70 countries. BP Norge has been active on the Norwegian continental shelf since 1965 and operates five producing fields comprised of 13 platforms and one floating, production, storage and offloading vessel. The five fields are the Skarv field in the Norwegian Sea and Valhall, Hod, Ula and Tambar in the North Sea. Headquartered in Stavanger, BP Norge has approximately 850 employees. For more information visit www.bp.no.

 

Further information

•Det norske press office: +47 911 12 475
•BP London press office: +44 20 7496 4076

 

Investor call information:

Participant access – dial in 5-10 minutes prior to the start time using the number and confirmation code.

Confirmation code: 3804762

Telephone numbers:

Norway, local – Oslo: +472350 0486

Norway, national free phone: 800 56053

UK, local – London: +44(0)20 3427 1919

UK national free phone: 0800 279 5736

UK national free phone: 0800 279 4977

USA, local – New York: +1646 254 3388

USA national free phone: 1877 280 2296

 

Previous Post

Eni makes new ‘significant’ gas discovery offshore Egypt

Next Post

Magellan Petroleum Sells Weald Basin Acreage and Settles Litigation

Related Posts

Hungary Russia Serbia Deal on Imports of Russian Crude Oil
Downstream

Hungary, Russia, Serbia Deal on Imports of Russian Crude Oil

July 31, 2025
EQT Expands Gas Operations with Olympus Energy Acquisition
News

EQT Expands Gas Operations with Olympus Energy Acquisition

July 31, 2025
Turkey Iraq Pipeline Deal and Energy Cooperation Plans
News

Turkey-Iraq Pipeline Deal and Energy Cooperation Plans

July 31, 2025
Aker BP JAPEX Norge Collaborate on North Sea Asset Trade
Exploration Development

Aker BP, JAPEX Norge Collaborate on North Sea Asset Trade

July 31, 2025
Eni Ghana Expands Natural
News

Eni Ghana Expands Natural Gas for OCTP to Power Ghana

July 28, 2025
CNOOC Makes Landmark Offshore Oil Gas
Exploration Development

CNOOC Makes Landmark Offshore Oil & Gas Discovery

July 21, 2025
Next Post

Royal Dutch Shell Plc First Quarter 2016 Euro And Gbp Equivalent Dividend Payments

LatestNews

EQT Expands Gas Operations with Olympus Energy Acquisition
News

EQT Expands Gas Operations with Olympus Energy Acquisition

July 31, 2025
Turkey Iraq Pipeline Deal and Energy Cooperation Plans
News

Turkey-Iraq Pipeline Deal and Energy Cooperation Plans

July 31, 2025
Aker BP JAPEX Norge Collaborate on North Sea Asset Trade
Exploration Development

Aker BP, JAPEX Norge Collaborate on North Sea Asset Trade

July 31, 2025
Eni Ghana Expands Natural
News

Eni Ghana Expands Natural Gas for OCTP to Power Ghana

July 28, 2025
CNOOC Makes Landmark Offshore Oil Gas
Exploration Development

CNOOC Makes Landmark Offshore Oil & Gas Discovery

July 21, 2025
Shell Receives Approval
Africa

Shell Receives Approval for Oil & Gas Drilling Project

July 21, 2025

About Us

Oil & Gas Advancement is a specialized platform delivering latest news and industry insights for the global oil and gas sector. Featuring market intelligence, expert opinions, events and updates, it serves as a trusted and strategic resource for industry stakeholders navigating energy transitions.

Subscribe Us

Resources

  • Advertise with us
  • Contact Us
  • Newsletter Archive
  • Download Mediapack

System

  • Search
  • Site Map
  • RSS Feed
  • Upstream
  • Pipelines & Transport
  • Downstream

© 2025 Copyright Valuemediaservices 2025 All rights reserved.

No Result
View All Result
  • Home
  • News
  • Projects
  • Whitepapers
  • Press Releases
  • Market Reports
  • Events
  • Contact Us

© 2025 Copyright Valuemediaservices 2025 All rights reserved.