Oil firm Aker BP has struck a deal to buy 11 licences off Norway from French oil giant Total for £155 million.
The portfolio includes four discoveries – Alve Nord, Rind, Trell and Trine – with net recoverable resources of 83 million barrels oil equivalents, Aker BP said.
Aker BP chief executive Karl Johnny Hersvik said: “We see a huge value creation potential in maximizing production through our operated production hubs. This requires continuous development and optimization of the existing reserves and resources, as well as adding new resources through exploration and acquisitions of existing discoveries.”
Hersvik added: “With this transaction, we get access to new tie-back opportunities in the Alvheim and Skarv areas, we strengthen our resource base in the NOAKA area, and we increase our interest in exploration acreage near the Ula field. These new resources will further strengthen our long-term production profile and contribute positively to future earnings.”
Aker BP is jointly owned by Aker (40%), BP (30%) and other shareholders (30%).