DNO swaps non-core assets with Aker BP for bigger slice of Norwegian field nearing startup

DNO Swaps Non-Core Assets with Aker BP for Larger Stake in Norwegian Field

Norwegian oil and gas operator DNO has agreed to exchange multiple assets with fellow Norwegian operator Aker BP on the Norwegian Continental Shelf (NCS).

DNO will increase its stake in the Verdande field from 10.5% to 14%. Verdande, operated by Equinor in a key area for DNO, is in advanced development and expected to begin production later this year. The field lies 10 kilometers north of the Norne field in the Norwegian Sea at a depth of 380 meters, discovered in 2017. Its plan for development and operation (PDO), approved in 2023, includes a subsea structure with three production wells linked to the floating production, storage, and offloading vessel (FPSO) Norne.

In return, DNO will transfer its entire 28.9% share of the non-core Vilje field to Aker BP, along with a 9% interest in the Kveikje discovery, leaving DNO with a 20% share in Kveikje after the deal. The agreement also covers stakes in three exploration permits. As a result, DNO's interest in PL1171 (Sunndal) will drop from 50% to 34%, in PL1175 (Reka) from 30% to 20%, and in PL1204 (Abel) from 60% to 40%.

DNO believes this transaction will enhance its portfolio by focusing on core assets and increasing its exposure to the developing Verdande field.

Summary: DNO strategically exchanges non-core assets with Aker BP to boost its stake in the promising Verdande field, sharpening its focus on core Norwegian Sea developments.

Offshore-Energy.biz — 2025-11-06

DNO Swaps Non-Core Assets with Aker BP for Larger Stake in Norwegian Field

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