Aker BP welcomes agreement on Ringvei Vest development concept

18 Jun 2026 09:03 CEST

Aker BP welcomes the announcement by Equinor, operator of Ringvei Vest, that the
partners have agreed on the development concept for the project. Ringvei Vest is
planned as a major subsea development tied back to the Troll B platform in the
North Sea. The agreement marks an important milestone and moves the project
towards a potential development decision.

Ringvei Vest combines several discoveries - Grosbeak, Swisher, Mulder, Kveikje,
Toppand, Røver Sør and Røver Nord - together with the Grønngylt prospect across
eight licences. Estimated gross resources are approximately 240 million barrels
of oil equivalent, making Ringvei Vest one of the largest early-phase
development projects on the Norwegian Continental Shelf.

The agreed concept comprises a subsea development with 13 wells through six
templates. The concept includes subsea separation prior to transportation to
Troll B, where a new compressor is planned to increase processing capacity. Oil
will be exported to Mongstad and gas to Kollsnes. Power supplied from Troll B,
which is partly electrified from shore, is expected to contribute to low
production emissions.

Aker BP has established its position in Ringvei Vest through a series of
targeted transactions, beginning with the Kveikje discovery and subsequently
expanding across the remaining licences, including through the recently
announced transaction with Equinor. Since entering the area, Aker BP has worked
closely with the operator and partners to support development of a joint area
solution, with agreement reached within months. The development illustrates Aker
BP's approach of building value-accretive positions close to existing
infrastructure through selective acquisitions and active partnerships.

By developing multiple discoveries through established infrastructure, Ringvei
Vest will be an important contributor to sustaining strong, profitable
production for Aker BP in the 2030s.

The project is expected to reach the decision to continue (DG2) by year-end.
Timing for a final investment decision, submission of the plan for development
and operation (PDO), and production start-up will be determined in a later
phase.

Aker BP holds a 19 percent interest in seven of the project's eight licences,
covering the Grosbeak, Swisher, Kveikje, Toppand, Røver Nord and Røver Sør
discoveries. The recently acquired interests remain subject to government
approval. Aker BP is not a partner in licence PL 090, which includes Mulder and
Grønngylt. Equinor is operator of all the 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 Oslo Børs under the ticker AKRBP. For more information,
visit www.akerbp.com (https://www.akerbp.com/en).

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