Aker BP to take full ownership of Valhall, Hod

Image: Aker BP
Image: Aker BP – Valhall is in the southern Norwegian North Sea.

Norway’s Aker BP has agreed with the US oil company Hess to acquire all the shares in Hess Norge for US$2 billion.

The transaction includes Hess Norge’s interests in the Valhall (64.05 per cent) and Hod (62.5 per cent) fields.

Once the transaction is completed, Aker BP will own 100 per cent of the Valhall and Hod fields, but the company said it would sell or swap a minority interest in the fields.

Valhall consists of a field centre with six platforms and two unmanned flank platforms. The field is in 70 metres of water.

Hod features an unmanned wellhead platform, located 13 kilometres south of Valhall, and is remotely operated from the Valhall field centre.

The transaction is subject to regulatory approval.

During the first nine months of 2017, Hess Norge’s share of production from the Valhall and Hod fields was about 24,000 barrels of oil equivalents per day.

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