Economics
$1 Billion Price Tag No Problem as Roekke Seeks Fresh Oil Deals
- Det Norske looking to buy more assets after BP Norway merger
- CEO sees potential in BP fields to produce for longer
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Billionaire Kjell Inge Roekke has already seized on the collapse in crude prices to merge his oil company, Det Norske Oljeselskap ASA, with BP Plc’s Norwegian unit. As he looks for more deals, money’s not the issue.
“To pay $1 billion for an asset that’s not attractive is of course a problem, but the amount itself is not necessarily a problem,” Det Norske Chief Executive Officer Karl Johnny Hersvik said in an interview with Bloomberg TV on Tuesday. “That depends on the asset.”