Named Aker BP, the new entity will hold 97 licenses on the Norwegian continental shelf, including 46 as the operator. It will produce around 122,000 barrels of oil equivalent per day, based on 2015 figures, with reserves estimated at 723 million barrels.

It will be 40-percent owned by Norwegian group Aker, the holding group that owns Det Norske, and 30-percent owned by BP. The remaining 30 percent will be held by Det Norske‘s other shareholders.