BCP Invests THB4,000 Million to Acquire Norwegian Petroleum Field

Mr. Chaiwat Kovavisarach, Group Chief Executive Officer and President Director of Bangchak Corporation Public Company Limited (SET: BCP), said since November 1, 2022, OKEA ASA, a subsidiary of the company, received a business transfer from Wintershall Dea, the operator business in Norway.

OKEA ASA will become an operator in Brage field with a shareholding stake in the project of 35.2% per share. The company also acquired 6.4615% shares in Ivar Aasen and 6% in Nova, for a total investment of more than 1,100 million Norwegian krone (more than 4,000 million baht).


The acquisition of Brage and two others, which point to OKEA’s important strategic growth, similar to the acquisition of Draugen in 2018, will increase production capacity by 7,000 barrels of oil equivalent per day, raising a total production capacity to 25,000-27,000 barrels in 2023-2024. The petroleum reserves are increasing by 30-40%, which helps expand the portfolio and insists on the strength of OKEA as an expert in mid-down stream of petroleum business in the Norwegian Continental Shelf-NCS.


The Brage field will become OKEA’s second main petroleum field after Draugen. Meanwhile, more than 140 well-trained and experienced staff of Wintershall Dea will become OKEA’s employee, raising total headcount by a fold.