Aker BP Uncovers Up to 134 Million-Barrel North Sea Oil Find

Aker BP said its Omega Alfa exploration campaign has uncovered between 96 million and 134 million barrels of recoverable oil equivalent in the Yggdrasil area of the Norwegian North Sea, marking one of the largest commercial discoveries on Norway’s continental shelf in the past decade. The find spans three exploration licences. In two of them, Aker BP holds a 47.7% operating stake alongside Equinor at 40% and Poland’s Orlen at 12.3%. In the third licence, Aker BP owns 38.16%, Equinor 32%, state-owned Petoro 20% and Orlen 9.84%. Chief Executive Officer Karl Johnny Hersvik said the company will move quickly to appraise the resource and look for additional volumes in the surrounding acreage. The discovery bolsters reserves earmarked for the wider Yggdrasil development, a multi-field project already slated to become one of Norway’s key new production hubs.