Aker BP UK, a newly established subsidiary of Aker BP in Norway, has entered into an agreement with Eni UK to take over a 50 per cent interest in an offshore licence located in the greater Alvheim area.
Aker BP said on Wednesday that Eni will remain the operator of the licence P2511, located on the UK Continental Shelf.
The assignment transaction is to be formally approved by the UK Oil & Gas Authority.
Licence P2511 is located to the borderline of the Norwegian continental shelf.
Aker BP as the operator has several discoveries in the Alvheim area on the Norwegian side, following a successful exploration campaign in 2019.
As explained by Aker BP, the key objective for the newly-established partnership between Eni UK and Aker BP UK is to explore the resource potential across the UK border in the greater Alvheim area.
The Aker BP-operated Alvheim area located in the Norwegian side is located in the central part of the North Sea, close to the British sector.
The area also consists of the Boa, Vilja, Volund, Bøyla and Skogul fields, which are produced via Alvheim FPSO.
The Skogul field was tied-in to Alvheim and started production in 2020. Aker BP continues to mature the discoveries Kobra East Gekko (KEG), Frosk, Trell and Trine, all of which are located in the area. The goal is to put these into production in the coming years.
Aker BP continues working on increased oil recovery at the field. Both proven resources in the area and potentially new discoveries can be linked to the FPSO in the coming years.