BP and Det Norske will also be joined by the latter's shareholder Aker ASA to form Aker BP ASA, as the company will be known, a new player that will focus on the Norwegian continental shelf.

Det norske said on Friday morning that the closing of the transaction was due to take place “today”, 30 September.

The new company will be independently operated and listed on the Oslo Stock Exchange and will be owned 40% by Aker, 30% by other Det Norske shareholders and 30% by BP.

Aker