Aker BP has increased its ownership interest in the Johan Sverdrup oil field, following the completion of a redetermination process conducted under the field's unit agreement.
Aker BP's ownership interest in the Johan Sverdrup Unit will rise to 31.7163% from 31.5733% previously after the review, which was initiated in January 2025 and included an expert determination based on updated technical and production data.
As part of the redetermination, historic investments and production volumes will be reallocated among the field's partners in line with the revised ownership interests.
The revised ownership interest will be reflected in Aker BP's accounts from the third quarter of 2026.
The company said it will receive an additional 2.2 million barrels of oil equivalent over the next two years as a result of the reallocation of historic production volumes.
Aker BP will also pay approximately $32.2 million (NOK 300 million) before tax reflecting the reallocation of historic investments.
The company said the redetermination will not affect ongoing operations at Johan Sverdrup, which is operated by Equinor and is one of the largest producing oil fields on the Norwegian continental shelf.