BP Norge joins forces with Det norske creating a new and exciting E&P company to be named Aker BP. The company will continue to be listed at the Oslo Exchange.

In connection with the merger, BP Norge is assigned to Det norske. The consideration is to be settled by cash and the shares are to be issued by the Det norske.

Following the transaction, Aker will have an ownership of 40% in Aker BP. BP UK and the remaining shareholders will have ownership of 30% respectively.

Aker BP will have a portfolio of 97 licenses on the Norwegian continental shelf with a reserve base of 723 million barrels of oil equivalent and a total production of around 122,000 barrels per day. The company has 1,400 employees.

Anders Arnkværn, Rune Solberg, Solveig Fagerheim Bugge, Christian Hals, Stein Kimsås-Otterbech, Ståle R Kristiansen and Claus S Mørch assists BP in connection with the merger.