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Aker BP buys Hess Norway for USD 2 billion

Aker BP has acquired Hess Norway for USD 2 billion, informs the company. The deal makes Aker BP sole owner of several fields which, according to the company, hold significant potential.

Photo: Aker BP ASA, Pressefoto

The consolidation in the oil sector continues as Aker BP will now purchase Hess' activities in Norway, informs the company in a notice to the Oslo Stock Exchange.

The cash price is expected to be around USD 2 billion, and for this sum Aker BP will take over Hess Norge's stakes in the fields Valhall and Hod, thus making Aker BP sole owner of these fields. The transaction will be financed through a bank credit facility and an issuance of shares for USD 500 million, writes the company.

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