Aker BP and DNO have signed agreements expanding their cooperation in Norway’s North Sea, strengthening Aker BP’s position in the Alvheim area and accelerating the development of the Kjøttkake discovery.
The deals involve an exchange of ownership interests across several licenses and the transfer of operatorship for Kjøttkake to Aker BP during the development phase. The move will allow Aker BP to apply its fast-track project model for efficient execution.
Under the terms, Aker BP will divest its interest in the Verdande field to DNO while increasing its stakes in the producing Vilje field, the Kveikje discovery, and several exploration licences.
Following the transactions, Aker BP will hold a 45% operated interest in Kjøttkake, 19% in Kveikje, and 75.757% in the Vilje field. The company will also raise its interests to 60% in licences PL1175 and PL1175B, 66% in PL1171, and 20% in PL1204 and PL1204BS.
The realignment enhances Aker BP’s footprint in the Alvheim area and supports integrated development opportunities, including potential tie-backs to existing infrastructure.
The agreements remain subject to regulatory approval and partner consent.