Aker BP divests 10% in Valhall, Hod fields

12/4/2017

LYSAKER -- Aker BP ASA has entered into an agreement with Pandion Energy AS to divest 10% interest in Valhall and Hod fields for an undisclosed cash consideration.

Aker BP is the operator of the Valhall and Hod fields. In October 2017, Aker BP entered into an agreement to acquire Hess Norge AS, making Aker BP the sole owner of the fields.

CEO of Aker BP, Karl Johnny Hersvik stated: “After we announced the Hess transaction, we have seen strong interest to partner with Aker BP in the Valhall area. Through this transaction, we get a partner that shares our ambition of developing the upside potential in these fields.”

The transaction is subject to customary government approval and closing is expected by the end of 2017.

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