Aker BP makes one of Norway's largest commercial discoveries in a decade

[Offshore construction platform for production oil and gas. Oil and gas industry and hard work. Production platform and operation process by manual and auto function from control room.]
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Aker BP (OTCQX:AKRBF [https://seekingalpha.com/symbol/AKRBF]) (OTCQX:AKRBY [https://seekingalpha.com/symbol/AKRBY]) said Thursday it made one of the largest commercial discoveries [https://www.reuters.com/business/energy/aker-bp-makes-significant-north-sea-oil-find-2025-08-21/] in Norway in a decade at the Yggdrasil area off the southwest coast.

Aker BP (OTCQX:AKRBF [https://seekingalpha.com/symbol/AKRBF]) (OTCQX:AKRBY [https://seekingalpha.com/symbol/AKRBY]) said the well is a significant oil discovery with a recoverable volume estimated at 96M-134M boe, with first oil expected in 2027.

The discovery was made across three separate exploration licences: In two of the licenses, Aker BP (OTCQX:AKRBF [https://seekingalpha.com/symbol/AKRBF]) (OTCQX:AKRBY [https://seekingalpha.com/symbol/AKRBY]) owns a 47.7% stake while Equinor (EQNR [https://seekingalpha.com/symbol/EQNR]) holds 40% and Poland's Orlen (OTCPK:PSKOF [https://seekingalpha.com/symbol/PSKOF]) has the remaining 12.3%, and in the third license, Aker BP owns 38.16%, Equinor 32%, Petoro 20% and Orlen 9.84%.

Aker BP (OTCQX:AKRBF [https://seekingalpha.com/symbol/AKRBF]) (OTCQX:AKRBY [https://seekingalpha.com/symbol/AKRBY]) aims to produce more than 1B barrels of oil and gas from Yggdrasil, which currently is the largest project under development on the continental shelf.

BP (NYSE:BP [https://seekingalpha.com/symbol/BP]) holds a 30% ownership stake in Aker BP (OTCQX:AKRBF [https://seekingalpha.com/symbol/AKRBF]) (OTCQX:AKRBY [https://seekingalpha.com/symbol/AKRBY]), while Aker ASA holds 40% and other shareholders have the remaining 30%.

MORE ON BP AND AKER BP

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* BP Is Acting Like An Oil Company Again (Rating Upgrade) [https://seekingalpha.com/article/4809365-bp-acting-like-oil-company-again]
* Aker BP: Excellent Norwegian Oil Stock Close To My Buying Target [https://seekingalpha.com/article/4793151-aker-bp-excellent-norwegian-oil-stock-close-to-my-buying-target]