Aker BP has entered into two separate transactions that strengthen its positions close to existing infrastructure on the Norwegian Continental Shelf. In the North Sea…
Aker BP has entered into two separate transactions that strengthen its positions close to existing infrastructure on the Norwegian Continental Shelf. In the North Sea, the company has agreed to acquire Apache’s interest in the Losgann/Froskelår discovery near the Alvheim area.
In the Norwegian Sea, the company has agreed to acquire operatorship and a majority interest in the Slagugle area, close to the Skarv field.
Together with the Froskelår discovery on the Norwegian Continental Shelf, Losgann forms a single cross-border accumulation located on the UK–Norway median line. The discovery has remained undeveloped to date. By acquiring Apache’s interest, Aker BP expects to establish operatorshipon both sides of the accumulation, creating a stronger basis for progressing the project towards development and maximising value creation from the discovered resource.
“Losgann and Froskelår are two names for the same discovery. By bringing ownership, operatorship and development responsibility together, we improve the prospects of moving the project towards development and creating value from resources located close to existing infrastructure,” said Karl Johnny Hersvik, CEO of Aker BP.
The Losgann/Froskelår discovery is considered a potential tie-back opportunity to the Alvheim area. The transaction supports Aker BP’s strategy of creating value through infrastructure-led development and
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