Aker BP ASA has entered into an agreement with Japex Norge AS (Japex) 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.

About Aker BP

Aker BP is a company engaged in exploration, field development and production of oil and gas on the Norwegian continental shelf. The company operates six field centres: Alvheim, Ivar Aasen, Skarv, Edvard Grieg, Ula and Valhall, and is a partner in the Johan Sverdrup field.
Measured in production, Aker BP is one of the largest independent oil companies in Europe.

About Japex

As a "comprehensive energy company" that stably supplies energy for the times, JAPEX will continue to invest in development to meet future demand for oil and gas, and at the same time, we will actively develop technologies such as CCS, which contribute to realizing carbon neutrality in 2050.