Equinor and Aker BP have entered into a strategic collaboration to improve the development of tight reservoirs on the Norwegian Continental Shelf, aiming to increase oil and gas recovery, reduce costs and enable the profitable development of discoveries that remain undeveloped. The Norwegian Offshore Directorate estimates that mapped tight reservoirs hold approximately 2.8 billion barrels of oil equivalent in recoverable resources. This is comparable to the expected recoverable resources of the Johan Sverdrup field. Many of the approximately 90 discoveries still awaiting development decisions are located in these reservoirs, highlighting the potential for further resource development.
Tight reservoirs have low permeability, restricting the flow of oil and gas through the rock. Conventional extraction methods can recover only a limited proportion of the available resources, while the cost of developing individual discoveries can make them commercially unviable. The two companies will explore ways to address these challenges through coordinated planning, technology development and standardised solutions.
The collaboration will cover prospects, discoveries and projects across the Norwegian Continental Shelf. Equinor and Aker BP will contribute opportunities from their respective portfolios and identify areas where shared expertise, technological advances and the exchange of operational experience can deliver the greatest value.
The work will also include resource maturation and well stimulation solutions, with the aim of establishing a predictable level of activity that can support a competitive supply chain. By creating opportunities for larger-scale deployment, the companies intend to strengthen supplier capacity and develop solutions that can be applied across multiple discoveries.
“By taking a portfolio-wide approach and developing common solutions, we can reduce costs and accelerate technology development. This can make more of these discoveries commercially viable. The benefits will be shared by licence owners and society alike,” said Kjetil Hove, Executive Vice President for Exploration & Production Norway at Equinor.
Karl Johnny Hersvik, Chief Executive Officer of Aker BP, said, “Scale is the key. By considering opportunities across both portfolios, we can create the basis for increased activity, faster learning and lower costs. Together, we can develop solutions more quickly and deploy them at a larger scale. We are starting this work immediately.”
The collaboration will be managed through a joint steering structure supported by multidisciplinary working groups comprising representatives from both companies. This framework will coordinate priorities and facilitate cooperation on technology, project development and operational practices.
Equinor and Aker BP expect the combined approach to support more efficient development of tight reservoir resources, improve recovery potential and strengthen the competitiveness of the Norwegian Continental Shelf. The initiative responds to the industry’s need for common solutions to unlock resources that remain difficult to develop using conventional methods.
Aker BP explores, develops and produces oil and gas on the Norwegian Continental Shelf. Its operated field centres include Alvheim, Eiga, Skarv, Ula and Valhall, while Yggdrasil is under development. The company is also a partner in the Johan Sverdrup field. Headquartered at Fornebu, Aker BP is listed on the Oslo Stock Exchange under the ticker AKRBP.
