Solveig Phase 2 on stream

02 Feb 2026 07:00 CET

Aker BP has started oil production from the Solveig Phase 2 development in the
North Sea. The project has been delivered on schedule and within budget, adding
approximately 39 million barrels of oil equivalent in recoverable resources to
the Solveig field.

Solveig is located around 15 kilometres south of the Edvard Grieg platform and
is a subsea development tied back to Edvard Grieg through existing
infrastructure. The development comprises three wells targeting both new and
existing reservoir segments, and will help extend plateau production from the
Solveig field while making efficient use of available capacity on the Edvard
Grieg platform.

"Aker BP has once again delivered a project safely, efficiently and with high
quality. Bringing Solveig Phase 2 on stream on time and within budget
demonstrates the strength of our suppliers and our execution model - creating
value for our shareholders, partners and society," says Karl Johnny Hersvik, CEO
of Aker BP.

The development has been carried out in close collaboration with several leading
suppliers. TechnipFMC has delivered the subsea systems, while Moreld Apply has
performed modifications on the Edvard Grieg platform. Drilling operations have
been undertaken by Odfjell Drilling and Halliburton through Aker BP's drilling
and wells alliance. Together, these suppliers have contributed to the safe,
efficient and high-quality execution of the project.

Solveig Phase 2 is the fifth Aker BP-operated project sanctioned in 2022 that
has now come on stream.

Aker BP is the operator of both Solveig (PL359) and Edvard Grieg (PL338) with a
65 percent working interest, while OMV Norge AS (20 percent) and Harbour Energy
Norge AS (15 percent) are partners in both licences.

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

About Aker BP:
Aker BP is a leading exploration and production company focused on oil and gas
operations on the Norwegian continental shelf. The company operates the Alvheim,
Eiga (Edvard Grieg and Ivar Aasen), Skarv, Ula, and Valhall field centres and is
a key partner in the Johan Sverdrup field. Headquartered in Fornebu, Norway,
Aker BP is listed on the Oslo Børs under the ticker AKRBP. For more information,
visit www.akerbp.com/en.

More information:
Access the news on Oslo Bors NewsWeb site

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