Aker BP awarded 27 licenses in APA 2023

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Aker BP has been awarded ownership interest in 27 exploration licenses on the Norwegian continental shelf in the APA 2023 licensing round, with 17 of the licenses also granting operatorship. The company aims to maintain its ambitious exploration strategy and balance its portfolio between wells close to existing infrastructure and independent developments. The Norwegian authorities offered exploration acreage in all areas of the Norwegian continental shelf, emphasizing the importance of producing gas to secure the energy supply to Europe. The award reflects Aker BP's comprehensive application and consolidates its position as the most active independent exploration company on the NCS.

LYSAKER, Norway., Jan. 16, 2024 /PRNewswire/ -- The Norwegian authorities are offering Aker BP ownership interest in 27 exploration licenses on the Norwegian continental shelf in the APA 2023 licensing round. For 17 of the licenses Aker BP is also granted operatorship. The award consolidates our position as the most active independent exploration company on the NCS.

"We are very pleased with the award that was announced today. It reflects our comprehensive application and gives us a foundation for maintaining our ambitious exploration strategy," says Per Øyvind Seljebotn, SVP Exploration and Reservoir Development in Aker BP.

Aker BP is offered exploration acreage in all areas of the Norwegian continental shelf, the North Sea, the Norwegian Sea and the Barents Sea.

"Our strategy is to have a portfolio of acreage that provides a good balance between exploration wells close to existing infrastructure, and wells that can lay the foundation for independent developments if we make discoveries. For some of the exploration prospects, we are particularly targeting gas. It is more important than ever that Norway produce gas to secure the energy supply to Europe," says Seljebotn.

APA - Awards in Predefined Areas, is the annual licensing round that includes mature areas of the Norwegian continental shelf. These are areas with known geology and a relatively well-developed infrastructure with production facilities and pipelines.

The award in TFO 2023 was announced by Minister of Energy Terje Aasland at the Oil and Energy Policy Seminar in Sandefjord today. 24 companies were offered ownership interest in a total of 62 licenses.

CONTACT:

Contacts:
Ole-Johan Faret, Press Spokesperson, tel.: +47 402 24 217
Kjetil Bakken, Head of Investor Relations, tel.: +47 918 89 889

The following files are available for download:

https://mb.cision.com/Main/1629/3910272/2543346.pdf

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SOURCE Aker BP ASA

FAQ

What licenses were awarded to Aker BP in the APA 2023 licensing round?

Aker BP was awarded ownership interest in 27 exploration licenses on the Norwegian continental shelf in the APA 2023 licensing round, with 17 of the licenses also granting operatorship.

What is the significance of the award for Aker BP?

The award reflects Aker BP's comprehensive application and consolidates its position as the most active independent exploration company on the NCS.

What is the strategic focus of Aker BP's exploration strategy?

Aker BP aims to have a portfolio of acreage that provides a good balance between exploration wells close to existing infrastructure and wells that can lay the foundation for independent developments if discoveries are made.

What areas were included in the exploration acreage offered to Aker BP?

Aker BP was offered exploration acreage in all areas of the Norwegian continental shelf, including the North Sea, the Norwegian Sea, and the Barents Sea.

Why is gas production emphasized in the PR?

The company is particularly targeting gas for some of the exploration prospects, emphasizing the importance of producing gas to secure the energy supply to Europe.

What is the significance of the APA - Awards in Predefined Areas?

APA is the annual licensing round that includes mature areas of the Norwegian continental shelf, known for their geology and relatively well-developed infrastructure with production facilities and pipelines.