Aker BP Starts Solveig Phase 2 Production, Adding 39 Million Barrels in the North Sea

Aker BP ASA ( (GB:0M5J) ) has shared an announcement.

Aker BP has commenced oil production from the Solveig Phase 2 development in the North Sea, a subsea tie-back to the Edvard Grieg platform that adds about 39 million barrels of oil equivalent in recoverable resources to the Solveig field. Delivered on schedule and within budget, the three-well development targets both new and existing reservoir segments, extending plateau production from Solveig and utilising spare capacity at Edvard Grieg, underscoring Aker BP’s project execution capabilities and strengthening its production base in collaboration with key suppliers TechnipFMC, Moreld Apply, Odfjell Drilling and Halliburton; it is the fifth Aker BP-operated project sanctioned in 2022 to come on stream, reinforcing the company’s role as a major operator on the Norwegian continental shelf alongside partners OMV Norge and Harbour Energy Norge.

The most recent analyst rating on (GB:0M5J) stock is a Sell with a NOK260.00 price target. To see the full list of analyst forecasts on Aker BP ASA stock, see the GB:0M5J Stock Forecast page.

More about Aker BP ASA

Aker BP is a leading exploration and production company focused on oil and gas operations on the Norwegian continental shelf. The company operates major field centres including Alvheim, Edvard Grieg and Ivar Aasen, Skarv, Ula and Valhall, and is a key partner in the giant Johan Sverdrup field. Headquartered in Fornebu, Norway, Aker BP is listed on the Oslo Børs under the ticker AKRBP and concentrates on developing offshore resources through efficient use of existing infrastructure.

YTD Price Performance: 9.54%

Average Trading Volume: 980,259

Current Market Cap: NOK177.9B

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