Aker BP closes King Lear acquisition

Ula field center / Image source: Aker BP

Norwegian oil company Aker BP has completed the acquisition of the King Lear discovery located offshore Norway from its compatriot Equinor.

Equinor signed an agreement with Aker BP to sell its 77.8% operated interest in the King Lear discovery for a total of $250 million in October 2018. The transaction was subject to approval by Norwegian authorities.

Aker BP said on Friday, December 28 that all closing conditions had been fulfilled, and the closing of the transaction had taken place.

King Lear is a gas/condensate discovery that was made in 1989 in blocks PL 146 and PL 333 in the Ekofisk area of the NCS. Net recoverable resources are 77 million barrels of oil equivalent.

King Lear is located approximately 50 km south of the Ula field center. Aker BP’s goal is to develop King Lear as a satellite to Ula.

The remaining 22.2 percent interest in the discovery is held by Total E&P Norge.

Share this article

Follow Offshore Energy Today

Events>

<< Jun 2019 >>
MTWTFSS
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

Uganda International Oil and Gas Summit 2019

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

read more >

Nigeria Oil & Gas Conference & Exhibition 2019

The annual meeting once again proved to be a great success, gathering over 700 industry professionals…

read more >

08th OIL & GAS AFRICA 2019 CONFERENCE

OIL & GAS AFRICA is one of the most prime regional & international Oil and Gas conferences in East Africa…

read more >

Gas Indonesia Summit 2019

Gas Indonesia Summit & Exhibition is returning for the fourth edition in Jakarta…

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

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