document: Aker BP completed the acquisition of Hess's Norwegian subsidiary Hess Norge on 22 December 2017. The deal was first announced on 24 October 2017 and is backdated to 1 January 2017. Hess will receive US$ 2 billion cash consideration however Aker BP will benefit from Hess Norge's tax loss carry forward, nominally valued at US$ 1.5 billion after tax. The deal comprises PL033, PL006 B & PL033 B containing the producing Hod and adjacent Valhall oil fields, in the Southernmost Norwegian North Sea on the Norway-Denmark border. Hod production commenced in September 1990 from Late Cretaceous Hod & Tor formations and the Early Paleocene Ekofisk Formation, having original recoverable volumes of 80.8 MMboe and has produced 75.3 MMboe to end 2016. Valhall production commenced in October 1982 from Late Cretaceous Hod and Tor formations, with original recoverable volumes of 1,136.5 MMboe and has produced 899 MMboe to end 2016. The deal also includes 15% in Statoil operated 15th Round 1996 award PL220 (248 sq km) in the Northern most Norwegian Sea, currently under extension after drilling 6710/10-1 (2000, Den norske, 2,267m TVD) which was P&A dry. Hess previously held 64.05% in PL006 B (Hod) and 62.5% in PL033 & PL033 B (Valhall) and after becoming 100% operator Aker BP concluded on the same date the sale of 10% in both licences to Pandion Energy. Hess is also selling its Danish subsidiary which includes 61.5% operator share of South Arne oil field. 
summary: Aker BP (->100%) completed the acquisition of PL 006 B, PL 033, PL 033 B & PL 220 blocks from Hess for US$1,5 billion.