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 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%
Contacts:
Kjetil Bakken, Head of Investor Relations, tel.: +47 918 89 889
Ole-Johan Faret, Press Spokesperson, tel.: +47 402 24 217
About Aker BP:
Aker BP is a leading exploration and production company focused on oil and gas
operations on the Norwegian continental shelf. The company operates the Alvheim,
Edvard Grieg, Ivar Aasen, Skarv, Ula, and Valhall field centres and is a key
partner in the Johan Sverdrup field. Headquartered in Fornebu, Norway, Aker BP
is listed on the Oslo Børs under the ticker AKRBP. For more information, visit
www.akerbp.com/en.
This information is subject to disclosure requirements pursuant to section 5-12
of the Norwegian Securities Trading Act and requirements under the EU Market
Abuse Regulation.