Aker BP and Equinor have formed a strategic partnership to optimise resource development across the Norwegian Continental Shelf (NCS). The initial phase focuses on streamlining operations across the Ringvei Vest, Yggdrasil and Wisting areas.
Under the agreement, Aker BP will acquire a 19% stake from Equinor in several licences within the Ringvei Vest area to facilitate coordinated cluster development. Additionally, Aker BP will obtain a 38.16% interest in UK licence P2343, containing parts of the Omega Alfa discovery. These resources are expected to be developed as a cross-border subsea tie-back to the Yggdrasil area.
Furthermore, Aker BP will assign a 7.5% stake in the Barents Sea Wisting discovery to Equinor, alongside a US$23m cash payment. The transactions aim to synchronise ownership interests and accelerate high-value project execution, with the agreements expected to take effect from 1 January 2026.
Track more details on the Omega Alfa Oil Discovery and Yggdrasil Development directly on EICDataStream.