Norway-focused oil and gas company Aker BP, said Wednesday it had, through a newly formed subsidiary Aker BP UK, farmed into an offshore block in the UK North Sea.
Aker BP UK has entered into an agreement with Eni UK to take over a 50 percent interest in licence P2511 on the UK Continental Shelf. Eni UK will remain the operator. The assignment transaction is to be formally approved by the UK Oil & Gas Authority.
The Licence P2511 is located to the borderline of the Norwegian continental shelf. Aker BP as the operator has several discoveries in the Alvheim area on the Norwegian side, following a successful exploration campaign in 2019.
"The key objective for the newly established partnership between Eni UK and Aker BP UK is to explore the resource potential across the UK border in the greater Alvheim area," Aker BP said.