DNO ASA and Aker BP ASA have signed agreements to recalibrate their exploration and production ownerships in the Norwegian continental shelf, including the Kjottkake discovery.
Aker BP will assume operatorship of Kjottkake until the start of production, after which DNO will resume operatorship, according to online statements by the companies on Thursday. The move allows for faster development, with production now targeted for the first quarter of 2028, the companies said.
Fornebu, Norway-based Aker BP “will draw on its alliance with suppliers and its equipment inventory to deliver the project on time”, DNO said.
“Three years from discovery to production is a standout on the Norwegian continental shelf, where such tie-backs typically take at least twice as long to complete”, DNO said.
DNO discovered Kjottkake earlier this year in the northern North Sea under Production License 1182 S (PL 1182 S).
“The discovery was made in Paleocene injectite sandstones of excellent reservoir quality with preliminary estimates of gross recoverable resources in the range of 39 to 75 million barrels of oil equivalent (MMboe), with a mean of 55 MMboe”, DNO said in a press release March 26.
“The Kjottkake exploration well encountered a 41-meter oil column and a nine-meter gas column. A sidetrack drilled horizontally 1,350 meters westwards along the reservoir in the Sotra Formation confirmed the presence of the oil column throughout the discovery”.
Kjottkake sits 27 kilometers (16.78 miles) northwest of the Troll C platform and 44 kilometers southwest of the Gjoa platform, according to DNO.
Under the swap agreements, DNO and Aker BP retain their Kjottkake stakes of 40 percent and 45 percent respectively. Concedo AS holds 15 percent.
Also under the agreements DNO will transfer its 28.9 percent stake in the producing Vilje field to Aker BP, whose interest will increase to 75.76 percent.
Aker BP will transfer its 3.5 percent stake in the under-development Verdande field to DNO, whose stake will increase to 14 percent.
DNO will also transfer part of its ownership in the Kveikje discovery and exploration assets PL 1171, PL 1175 and PL 1204 to Aker BP. After the transactions, DNO will retain 20 percent in Kveikje, 34 percent in PL 1171, 20 percent in PL 1175 and 40 percent in PL 1204. Aker BP will increase its stakes to 19 percent in Kveikje, 66 percent in PL 1171 and 60 percent in PL 1175, as well as join PL 1204 with a 20 percent stake.
“The swap is in line with DNO’s strategy of high-grading its North Sea portfolio following the acquisition of Sval Energi AS in June 2025”, DNO said.
Aker BP said, “The agreements enhance Aker BP’s footprint in the Alvheim and Kjottkake areas and support integrated development opportunities, including potential tie-back solutions to existing infrastructure”.
“This reflects both companies’ shared commitment to maximizing resource recovery and creating value through collaboration”, Aker BP added.
The agreements do not involve cash. The agreements are subject to regulatory and partner approvals, according to the companies.
To contact the author, email jov.onsat@rigzone.com
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