Aker BP completes $14bn acquisition of Lundin Energy’s E&P business
Lundin Energy Norway will operate as Aker BP’s fully owned subsidiary and will be renamed ABP Norway AS.

Lundin Energy Norway will operate as Aker BP’s fully owned subsidiary and will be renamed ABP Norway AS.
The sale process will not resume until the country's Supreme Court pronounces a verdict on the 2019 oil spill case.
Foreign shareholders are required to seek permission from the government for a stake in the new company within a month.
The North Reggane field comprises 19 wells that produce approximately 2.8 billion cubic metres of gas per year.
To reflect the change in the stake, the North Platte development project will be renamed Sparta development.
The National Grid may cut off the gas interconnector pipelines to the Netherlands and Belgium under emergency measures.
The sale comes over concerns of Western sanctions impacting the assets and also due to their ‘disappointing economics’.
The deal is expected to increase Earthstone’s net production by 18,000boepd to 23,000boepd in Q4 2022.
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