In the North Sea, Aker BP agreed to acquire Apache's operated interest in the UK portion of the Losgann discovery. Together with the Froskelår discovery on the Norwegian Continental Shelf, Losgann forms a single cross-border accumulation on the UK-Norway median line and is considered a potential tie-back opportunity to the Alvheim area.

“Losgann and Froskelår are two names for the same discovery. By bringing ownership, operatorship and development responsibility together, we improve the prospects of moving the project towards development and creating value from resources located close to existing infrastructure,” said Karl Johnny Hersvik, chief executive officer, Aker BP.

Separately, Aker BP signed an agreement with ConocoPhillips Skandinavia AS to acquire a 51% operated interest in the Slagugle area of the Norwegian Sea, close to Skarv field.

The transaction marks a return to the area for Aker BP, which held a 30% interest in PL 891 from a 2016 bid round, before exiting the license in 2019. The Slagugle oil discovery well was drilled in 2020. Two subsequent appraisal wells proved about 50 million bbl (gross) of recoverable oil.

A subsea development concept has been partially matured, and the agreement includes preliminary plans for additional exploration aimed at expanding the resource base ahead of a potential development, Aker BP said. 

The Slagugle area comprises licenses PL 891, PL 891B, and PL 891C. The discovery lies about 20 km north of Heidrun field and about 270 km north of Kristiansund.

Following completion, ConocoPhillips will hold a 29% non-operated interest. INPEX Idemitsu Norge AS holds the remaining 20%.

Both transactions are subject to regulatory approval and other closing conditions.