Deals
Aker BP Buys Lundin’s Oil and Gas Units in $10 Billion Deal
- Combined company to be Norway’s second-largest producer
- Purchase expands influence of billionaire Rokke’s conglomerate
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Aker BP ASA agreed to buy the oil and gas business of Lundin Energy AB in a $10 billion deal that creates the second-largest producer on the Norwegian Continental Shelf.
The transaction completes Aker BP’s ascendancy in the Nordic country’s offshore energy industry, putting it behind only state-owned Equinor ASA just five years after it was created. The combined companies will pump the equivalent of about 400,000 barrels of oil a day, more than some OPEC members.