North Energy and Explora Petroleum AS will combine to form a single company named North E&P AS, following the completion of North’s acquisition of Explora.
As part of the combination, North will merge its employees with Explora Petroleum's workforce. Explora will be renamed North E&P AS and North Energy ASA will convert to a holding company, with all petroleum activities in the merged company held under North E&P AS.
The board of directors of North E&P AS will consist of North Energy’s Knut Sæberg, and Explora Petroleum’s Didrik Leikvang and John Pickard. Completion of this reorganization is expected by the end of the first half of 2016.
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