Aker BP ASA has entered into an agreement with Japex Norge AS to swap a 10 percent interest in the Aker BP-operated Alve Nord development and a 3.5 percent interest in the Verdande development. In exchange, Aker BP will receive Japex’s Northern North Sea portfolio and a cash consideration of USD 14 million. 

Japex’s Northern North Sea portfolio comprises a 15 percent interest in the Kjøttkake discovery (PL1182S), a 10 percent interest in the Kveikje discovery (PL293B/PL293CS), and a 20 percent interest in PL1212S. By increasing its stake in Kjøttkake to 45 percent and entering Kveikje with 10 percent, Aker BP strengthens its position in a high-potential cluster of discoveries.

The effective date of the transaction is 1 January 2025, with completion subject to approval by Norwegian authorities.

Aker BP in Norway

Aker BP is a prominent oil and gas exploration and production company based in Norway. It operates primarily on the Norwegian Continental Shelf (NCS), where it holds interests in several producing fields, development projects, and exploration licenses. The company was formed through the merger of Det norske oljeselskap and BP Norge in 2016 and has since grown through strategic acquisitions, including Lundin Energy's oil and gas business in 2022. Aker BP operates key assets such as the Skarv, Alvheim, Ivar Aasen, Ula, and Valhall fields, and it is also involved in the development of new projects like Yggdrasil (formerly NOAKA), Hugin, and Fenris. The company emphasizes efficient, low-emission production and is integrating digital technologies to improve operational performance. Aker BP plays a significant role in Norway’s petroleum sector and is known for its close collaboration with Aker ASA and other industrial partners.

KeyFacts Energy: Aker BP Norway country profile