Aker BP buys eight Norwegian licenses from Tullow

Aker BP, a newly-formed offshore, exploration and production company, has announced the acquisition of eight licenses off Norway from the oil company Tullow Norge.

To remind, BP Norge and Det norske oljeselskap last week completed their merger thus creating a new, independent E&P company on the Norwegian Continental Shelf, Aker BP. Following the merger, Aker BP holds a portfolio of 97 licenses on the Norwegian Continental Shelf, of which 46 are operated.

Aker BP’s transaction with Tullow comprises working interest in eight licenses, including 15 percent in the Oda, previously known as Butch, discovery in PL 405.

The company said on Monday that the transaction strengthens its 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 licenses acquired include four in the North Sea, two in the Norwegian Sea, and two in the Barents Sea.

The North Sea licenses are PL 405, PL 811, PL 507, and PL 784 where Aker BP bought 15%, 20%, 40% and 40% interests, respectively. The Norwegian Sea licenses are PL 650 and PL 838 where the oil company bought 25% and 40% interests, respectively. Finally, in the Barents Sea, Aker BP took 37.5% interest in PL 610 and 15% interest in PL 659.

Share this article

Follow Offshore Energy Today

Events>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

Africa Oil & Power 2019

The Africa Oil & Power conference will bring together an elite class of ministers and senior-level government…

read more >

OWI LATAM 2019

Over the two-day conference, 25+ expert speakers will share exclusive insight on how to develop an integrity, production and P&A strategy…

read more >

Uganda International Oil and Gas Summit 2019

Uganda International Oil & Gas Summit will once again examine the industry’s developments…

read more >

Argentina Oil and Gas Expo 2019

The Argentine Oil and Gas Institute (IAPG) organizes the Argentina Oil & Gas Expo bringing together the most…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply