Aker BP Raises Stake in Norway's Johan Sverdrup

Aker BP ASA and its partners in the Johan Sverdrup Unit on Norway's side of the North Sea have completed a redetermination that entitles Aker BP to 2.2 million barrels of oil equivalent over the next 2 years due to its ownership increasing to 31.7163 percent.

Its previous stake was 31.5733 percent. "Aker BP will pay approximately NOK 300 million [$31.46 million] before tax, reflecting the reallocation of historic investments", it said in an online statement.

"The redetermination does not affect ongoing operations at the Johan Sverdrup field, which continues to deliver strong performance".

Before the redetermination, operator Equinor ASA owned 42.6267 percent. Petoro AS held 17.36 percent and TotalEnergies SE had 8.44 percent.

Johan Sverdrup, which started production 2019, accounted for nearly 40 percent of the Nordic country's oil production of about 106 million cubic meters (3.74 billion cubic feet) in 2025, according to the Norwegian Offshore Directorate's "The Shelf" report published January 8, 2026.

"[T]he field has produced at plateau over the last three years", the report said. "The field will continue to provide a significant share of oil production over the next few years, despite gradually declining from plateau".

Johan Sverdrup is estimated to hold remaining reserves of 192.9 MMcm oil, 4.9 MMcm oil equivalent gas and 2.8 MMcm oil equivalent natural gas liquids, according to information on government website Norskpetroleum.no. It was discovered 2010 some 65 kilometers (40.39 miles) northeast of the Sleipner fields in waters 115 meters (377.3 feet) deep. Johan Sverdrup spans 200 square kilometers (77.22 square miles) in the Utsira High area.

Last year the consortium agreed on a NOK-13 billion investment to proceed with the third phase of Johan Sverdrup to increase recoverable volumes by 40-50 million barrels of oil equivalent.

Equinor said July 1, 2025 the consortium had submitted a development plan to Norwegian authorities. Phase 3 is targeted to start production 2027.

Phase 3 is designed to have two new subsea templates in the Avaldsnes and Kvitsoy areas, tying back 8 wells to existing templates and pipelines to the P2 platform for processing and export.

"To ensure optimal resource utilization, the project leveraged artificial intelligence to analyze field layouts and well paths. This technology has enabled faster decision-making and resulted in cost savings of NOK 130 million for the phase 3 project”, Equinor said.

"The project also facilitates future value creation at Johan Sverdrup by adding extra well slots, and opportunities for connecting additional subsea templates", Equinor added.

Newcastle, England-based TechnipFMC PLC won phase 3's engineering, procurement, construction and installation contract, valued NOK 5.3 billion.

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