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Aker BP acquires Lundin’s oil and gas business

Aker BP is acquiring Lundin’s oil and gas business with the Lundin family coming in on the ownership side. The combined company will now be the second-largest producer behind Equinor on the Norwegian Continental Shelf.

Photo: PR/Aker BP

Aker BP has acquired its Swedish competitor Lundin in the megadeal, worth NOK 125 billion (DKK 91.8 billion),” Aker BP said in a statement to the stock exchange Tuesday.

"In 2016, we created Aker BP together with BP when we combined Det Norske and BP Norge. We have always admired Lundin Energy, both as a partner and a skilled operator on the Norwegian Continental Shelf, with world-class assets as well as their 20 per cent share in Johan Sverdrup. When we created Aker BP, the future acquisition of Lundin Energy was a shared vision of BP and Aker," says Øyvind Eriksen, Aker CEO and chairman of Aker BP.

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