DNO, Aker BP trade Norwegian offshore field, exploration interests

DNO and Aker BP have agreed to exchange interests in various field developments and discoveries on the Norwegian Continental Shelf, subject to approval from the authorities.

Under the terms of the transaction, DNO would increase its stake in the Verdande oil and gas field subsea tieback to the Norne complex in the Norwegian Sea from 10.5% to 14%.

The company expects first production from the Equinor-operated project later this year.

In exchange, Aker BP will receive DNO’s entire 28.9% interest in the producing Vilje field in the Alvheim area of the North Sea (which Aker BP operates); a 9% interest in the Kveikje discovery in the Fram area of the North Sea; and interests ranging from 16-20% in the Sunndal, Reka and Abel exploration permits.