Aker BP ASA: Aker BP strengthens North Sea portfolio with Japex agreement
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.
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| Aker BP participating interest | |||
| License | Name | Pre-deal | Acquired / Sold (-) | Post-deal | |
| PL127C | Alve Nord | 68.0825% | -10.0000% | 58.0825% | |
| PL127/PL127DS | Verdande Unit | 7.0000% | -3.5000% | 3.5000% | |
| PL1182S | Kjøttkake | 30.0000% | 15.0000% | 45.0000% | |
| PL293B/PL293CS | Kveikje | - | 10.0000% | 10.0000% | |
| PL1212S |
| - | 20.0000% | 20.0000% | |