Norwegian firm Det norske and BP's Norwegian business are set to cease to be from today, after a deal which will see the two firms combines is scheduled to complete.
The two companies are to become Aker BP under the move. Aker BP will be jointly owned by current Det norske shareholder Aker (40%), other Det norske shareholders (30%) and BP (30%).
Aker BP will hold a portfolio of 97 licenses on the Norwegian Continental Shelf, of which 46 are operated. The combined company will hold an estimated 723 MMboe P50 reserves, with a 2015 joint production of approximately 122,000 b/d.
Det norske and BP had at the end of 2015 a combined workforce of approximately 1400 employees.