(WO) — Equinor and Aker BP have agreed to align portions of their Norwegian Continental Shelf portfolios through a series of offshore asset transactions aimed at accelerating development activity and increasing long-term production.
The companies said the collaboration will focus on selected offshore areas where greater ownership alignment could support faster project decisions, improved resource utilization and more coordinated development planning.
As part of the agreement, Aker BP will acquire a 19% interest in several discoveries within the Ringvei Vest area, including Grosbeak, Røver Nord and Sør, Toppand and Swisher. The companies also plan to evaluate including the Kveikje discovery within the broader Ringvei Vest development area.
Equinor operates the Ringvei Vest cluster development in the Troll-Fram area of the North Sea.
In a separate transaction, Aker BP will acquire a 38.16% interest in the Frigg UK license from Equinor, supporting joint development of the Omega Alfa discovery and additional resource potential in the area.
Equinor will also increase its ownership interest in the Wisting discovery from 35% to 42.5%, strengthening its position in what the company described as the largest undeveloped discovery on the Norwegian Continental Shelf.
The companies said Aker BP will pay Equinor cash consideration of approximately $23 million as part of the transactions.
“By aligning interests across these assets, we can enable better and faster project decisions,” said Kjetil Hove, Equinor executive vice president for exploration and production Norway.
The agreements are effective Jan. 1, 2026, and remain subject to regulatory approval.
The transactions support broader efforts by operators on the Norwegian Continental Shelf to accelerate development of existing discoveries while maximizing value from offshore infrastructure and long-term production hubs.
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