Norwegian billionaire Kjell Inge Roekke on Feb. 23 moved the CEO of his platform-building company Kvaerner to the helm of his new oil company, Aker Energy, which will be developing a big oil field off Ghana.

Aker Energy said on Feb. 19 it had acquired Hess Corp.’s business in the West African country in a $100 million deal and had plans to develop a “significant” E&P business there.

Top of the list is development of the Tano Cape Three Points block, which holds an estimated 550 million barrels of oil equivalent, with a development plan due this year and production due to start in 2021.

Jan Arve Haugan will take the helm of Aker Energy on March 1, after leading Kvaerner since 2011.

Aker Energy is an oil firm owned 50% by Aker, Roekke’s main listed investment vehicle and 50% by TRG, the businessman’s privately held holding company.