The development, designed to recover around 50 MMboe, will help extend the lifetime of the host FPSO Alvheim through 2040. The other license partners are ConocoPhillips and Lundin Energy.
Located in production license 203, the Kobra East and Gekko discoveries will be connected to the FPSO Alvheim via subsea facilities.
Aker BP expects to double oil production through the FPSO, with CO2 emissions per barrel reduced by half.
The company estimates total investments in the project at around $1 billion, and is targeting start-up in 1Q 2024.