Norwegian oil and gas operator DNO has agreed an asset swap with Aker BP that will increase its ownership in the Verdande oilfield from 10.5% to 14%.
The transaction is part of DNO’s strategy to optimise its Norwegian Continental Shelf (NCS) holdings following its acquisition of Sval Energi in June 2025.
This deal involves no cash payment and is subject to regulatory approval.
Verdande, operated by Equinor, lies 10km north of the Norne field in the Norwegian Sea. It is in advanced development, with production scheduled to start in late 2025.
The field’s development plan, approved last year, includes a subsea template with three production wells tied back to the Norne floating production, storage and offloading (FPSO) vessel.
In exchange for the increased Verdande stake, DNO will transfer to Aker BP its entire 28.9% interest in the Vilje field, a producing asset in Aker BP’s Alvheim area.
The Norwegian operator will also transfer a 9% interest in the Kveikje discovery in the Troll-Fram area, reducing its holding in Kveikje to 20%.
The agreement also covers DNO’s interest in three exploration permits – PL1171, PL1175 and PL1204.
PL1175 and PL1204 are located in the Heimdal-Alvheim area and PL1171 in the Valhall area, where Aker BP is the operator.
DNO’s stake in PL1171 (Sunndal) will fall from 50% to 34%, in PL1175 (Reka) from 30% to 20% and in PL1204 (Abel) from 60% to 40%.
DNO, in its statement, said: “The swap is in line with DNO’s strategy of high grading its North Sea portfolio following the acquisition of Sval Energi AS in June 2025.
“The transaction strengthens DNO’s portfolio by increasing its stake in the Verdande field in one of the company’s core areas, Norne in the Norwegian Sea, from 10.5 to 14%.”
Earlier this year, DNO reported an oil and gas discovery in the northern North Sea licence PL1182 S, where it holds a 40% operated interest.
“DNO and Aker BP agree to swap Norwegian Sea assets ” was originally created and published by Offshore Technology, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
