Aker BP has agreed two transactions covering the Losgann/Froskelår discovery in the North Sea and the Slagugle area in the Norwegian Sea, both located near infrastructure associated with its existing hubs.
In the North Sea, Aker BP has signed an agreement with Apache to acquire its operated interest in the UK portion of the Losgann discovery.
Losgann and Froskelår form a single cross-border accumulation on the UK-Norway median line. Froskelår lies on the Norwegian Continental Shelf, while Losgann covers the UK side.
The discovery has not been developed. Subject to the required consents covering both sides of the accumulation, Aker BP expects to establish operatorship. Losgann/Froskelår is being considered as a potential tie-back to the Alvheim area.
Aker BP CEO Karl Johnny Hersvik said combining ownership, operatorship and development responsibility could improve the basis for progressing the discovery towards development.
Separately, Aker BP has agreed to acquire operatorship and a 51% working interest in the Slagugle area from ConocoPhillips Skandinavia.
After completion, ConocoPhillips Skandinavia will retain a 29% non-operated interest, while Inpex Idemitsu Norge will hold the remaining 20%.
The transaction will mark Aker BP’s return to the licence after seven years.
The Slagugle area consists of licences PL891, PL891B and PL891C and includes the main Slagugle oil discovery. It is located around 20 km north of the Heidrun field and approximately 270 km north of Kristiansund.
The first licence in the area was awarded in the APA licensing round in 2016. One discovery well and two appraisal wells were drilled between 2020 and 2025, proving around 50 million barrels gross of recoverable oil from the main Slagugle structure.
A subsea development concept has been partially matured. The agreement also includes preliminary plans for additional exploration intended to increase the resource base ahead of a potential development.
Hersvik said the Slagugle area is close to the Skarv field and that Aker BP sees potential to add resources through further exploration in the licence.
Both transactions remain subject to approval by the relevant authorities and other customary completion conditions.
The agreements follow a decision by Aker BP and Equinor, made less than three months earlier, to establish a strategic alliance covering selected parts of their oil and gas portfolios on the Norwegian Continental Shelf.
