The merged company is the second largest operating company on the Norwegian continental shelf (NCS). The company has a substantial resource base which provides a very good foundation for further growth and leads the way in terms of both low costs and low emissions per barrel.
"In 2016,
The best team
"The leading company needs to have the leading team. With the merger of
Will give more back to society
The development projects, the exploration activity and operation of our six production hubs create significant positive ripple effects for the supplier industry, along with tens of thousands of jobs with highly competent companies across the country.
"These are the same companies that will further develop the knowledge and expertise needed to deliver on renewable projects," says Hersvik.
He points out that the energy transition is the largest and most important strategic challenge the industry has ever faced.
"The world needs more energy which is sustainable, affordable and reliable.
"In addition to reducing emissions, the oil and gas resources must be managed in a way that gives even more back to society," he adds.
That's why
"We want the industry to work together more closely, and to share more. We intend to build the foundation for new industries to emerge. We will reduce emissions from our activities. And we will bolster the profitability. Increased value creation gives the State and our owners capital that could be invested in new business and industry," says Hersvik.
Integration in three phases
The initial announcement of
The merger will be implemented in three stages:
- From 1 July this year,
Lundin Energy Norway AS will operate as a fully owned subsidiary ofAker BP ASA . The subsidiary's name is changed to ABP Norway AS. - From 1 October, all employees will be fully integrated into a single organization
-
ABP Norway AS will then, according to the plan, be merged with
Aker BP ASA as soon as it is practically feasible.
For more information about the merger, please visit www.akerbp.com.
Investor contacts:
Jørgen Torstensen, IR Officer, tel.: +47 95 48 37 07
Media contacts:
About
IMPORTANT NOTICE
This communication does not constitute an offer to sell or the solicitation or invitation of any offer to buy, acquire or subscribe for, any securities or an inducement to enter into investment activity, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
This press release contains forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors because they relate to events and depend on circumstances that will occur in the future whether or not outside the control of each respective company or the combined company. Such factors may cause actual results, performance or developments to differ materially from those expressed or implied by such forward-looking statements. Although managements of each respective company believe that their expectations reflected in the forward-looking statements are reasonable based on information currently available to them, no assurance is given that such forward-looking statements will prove to have been correct. You should not place undue reliance on forward-looking statements. They speak only as at the date of this press release and neither
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