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

Dernière mise à jour: octobre 21, 2021

Deal creates strategic platform for long-term growth in Norway, combining Det norske’s efficient operating model with BP’s experience and technical expertise

BP and Det norske oljeselskap today 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 2023s 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

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

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

Pierre Perrin-Monlouis
Pierre Perrin-Monlouis
Fondateur de Rente et Patrimoine (cabinet de gestion de patrimoine), Pierre Perrin-Monlouis est un analyste et trader pour compte propre. Il vous fait profiter de son expérience en trading grâce à ses analyses financières et décrypte pour vous les actualités des marchés. Son approche globale des marchés combine à la fois l'analyse technique et l'analyse fondamentale sur l'ensemble des marchés : crypto, forex, actions et matières premières.