Røkke pays USD 100 million for Hess Ghana

Kjell Inge Røkke's Aker Energy is buying into a Ghana oil field with big plans for significant development of the company's assets in the country, informs Aker in a press release Monday.

Photo: PR-foto/Aker

Via his company Aker Energy, Kjell Inge Røkke has bought Hess Corporation's subsidiary in Ghana, Hess Ghana, for USD 100 million.

The takeover is part of Aker's ambitions to install significant research and production capacity in Ghana, says Aker CEO Øyvind Eriksen in a press release Monday.

Aker owns half of Aker Energy, while the remaining 50 percent is owned by the Røkke controlled-and-owned TRG.

Kjell Inge Røkke's oil company has been involved in Ghana since 2014, and with the acquisition of Hess Ghana follows a 50 percent shareholding in Deepwater Tano Cape Three Points block. The first oil is expected to be produced in 2021.

"Aker Energy sees considerable potential to apply the Aker Group's experience from the Norwegian Continental Shelf (NCS) to build a significant E&P activity in Ghana together with Ghana National Petroleum Corporation ("GNPC")," writes Aker.

English Edit: Lena Rutkowski

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