Oil Firm Det Norske Looking for More Deals in 'Very Interesting' Market

Reuters

OSLO, July 14 (Reuters) – Norwegian oil firm Det norske sees scope for further transactions after its planned merger with BP's Norwegian business, its chief executive told Reuters on Thursday.

"There is definitely a very interesting market with both majors, but also independents and utility companies, that are currently in some sort of process trying to assess the strategy, particularly related to upstream," chief executive Karl Johnny Hersvik told Reuters.

When asked what kind of transaction the firm's financial situation allowed, Hersvik said: "We don't really see size as a limitation at this point."

BP and Det norske agreed in June to merge their Norwegian businesses in a $1.3 billion all-share deal.

(Reporting by Stine Jacobsen, editing by Gwladys Fouche)

 

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