Aker BP Acquires Norwegian Offshore Licences from Tullow Norge

Source: www.gulfoilandgas.com 10/3/2016, Location: Europe

Aker BP ASA announces the acquisition of licenses from Tullow Norge AS. The transaction comprises working interest in eight licenses, including 15 percent in the Oda (previously known as Butch) discovery in PL 405. The transaction strengthens Aker BP’s position in core areas surrounding the Ula, North of Alvheim, Skarv and the Krafla/Askja areas.

The Oda development concept is a tie-in to the Ula field and the discovery is estimated to contain 43 million (gross) barrels of oil equivalent. The partners are targeting an investment decision in 2016. The transaction is subject to regulatory approval.

- In PL 405 Licence: 15.0 % equity transferred to Aker BP to became Aker BP new equity in the license 15.0 %.
- In PL 811 Licence: 20.0 % equity transferred to Aker BP to became Aker BP new equity in the license 20.0 %.
- In PL 507 Licence: 20.0 % equity transferred to Aker BP to became Aker BP new equity in the license 45.0 %.
- In PL 784 (Op.) Licence: 40.0 % equity transferred to Aker BP to became Aker BP new equity in the license 40.0 %.
- In PL 650 Licence: 25.0 % equity transferred to Aker BP to became Aker BP new equity in the license 25.0 %.
- In PL 838 Licence: 30.0 % equity transferred to Aker BP to became Aker BP new equity in the license 30.0 %.
- In PL 610 Licence: 37.5 % equity transferred to Aker BP to became Aker BP new equity in the license 37.5 %.
- In PL 659 Licence: 15.0 % equity transferred to Aker BP to became Aker BP new equity in the license 35.0 %.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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