Saughter and May is advising Aker BP on its asset swap transaction with Equinor

Saughter and May is advising Aker BP on the UK aspects of an asset swap transaction with Equinor under which, among other things, Aker BP will acquire a 38.16% interest in the United Kingdom Seaward Production licence No.P2343 from Equinor. The licence is adjacent to Norwegian licence PL1249, which contains parts of the 2025 Omega Alfa discovery. The strategic collaboration between Aker BP and Equinor, announced on 21 May 2026, is aimed at increasing the production and value created across selected parts of their portfolios.

Completion of the transaction is subject to customary conditions, including relevant regulatory and governmental approvals.  Saughter and May is working closely with Aker BP’s in-house legal team, led by Kari Holt Belck-Olsen.