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Current location:HOME>> News>> Industry News>> BP plan to spin off the assets in Norway
BP plan to spin off the assets in Norway
AUTHOR:admin PUBLISHED:2016-06-17 CLICK:正在读取

British Petroleum (BP) said that the company plans to divest its Norwegian oil and gas assets on Friday, and those assets with the Norwegian oil producer called Det Norske Oljeselskap ASA common assets put into a newly established public company.

The new public company called Aker BP ASA. It will become the highest exploration and Production Company in the Europe's oil yield.

bp

The oil industry has been in a turmoil owing to the international oil prices impact in the past two years. Many producers have already begun to cut jobs and cancel various projects and take other measures to strengthen their balance sheets.

By Det Norske, BP will acquire John • Sverdrup (Johan Sverdrup) 3.48% stake in offshore oil fields. The field is Norway's largest new oil projects, and can be get profits in the case of oil prices below $ 30/ barrel.

The newly merged Aker BP ASA will reach 12 million barrels of oil production per day, which will make it over competitors Tullow Oil Company to become Europe's largest independent oil and gas exploration and production companies.

BP said that once the new fields are developed, new business production will be able to double to 25 million barrels per day before 2023.

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