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FILE PHOTO: The logo of French oil behemothic Total is apparent on a banderole at La Defense business and banking commune in Courbevoie abreast Paris, France. May 16, 2018. REUTERS/Charles Platiau/File Photo
OSLO (Reuters) – Norway’s absolute oil close Aker BP (AKERBP.OL) has agreed to buy stakes in 11 assembly licenses off Norway from French Total (TOTF.PA) for a banknote application of $205 million, the aggregation said on Tuesday.
The portfolio includes four discoveries with net recoverable assets of 83 actor barrels oil equivalents based on estimates from the Norwegian Petroleum Directorate (NPD), it added.
“With this transaction, we get admission to new tie-back opportunities in the Alvheim and Skarv areas, we strengthen our ability abject in the NOAKA area, and we access our absorption in analysis acreage abreast the Ula field,” Aker BP’s Chief Executive Karl Johnny Hersvik said.
“These new assets will added strengthen our continued appellation assembly contour and accord absolutely to approaching earnings,” he added.
Aker BP, 40 percent endemic by Norwegian billionaire Kjell Inge Roekke and 30 percent by BP (BP.L), has developed bound through a alternation of mergers and acquisitions during the aftermost few years to become one of the better players on the Norwegian continental shelf.
Reporting by Nerijus Adomaitis; Editing by Raissa Kasolowsky
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