Aker BP and Total are seeking to increase their stake in the giant Equinor oilfield

Aker BP announced on Wednesday that TotalEnergies, Aker BP and Equinor are seeking an independent assessment of their stakes within Equinor’s Johan Sverdrup field in order to increase their holdings.

Sverdrup, which is built across a number of offshore oil and gas licenses, is owned by Equinor 42.63%, Aker BP 31.57%, Norwegian oil company Petoro 17.36%, and France's TotalEnergies 8.44%.

Owners of the oil field that began production in 2019 have the right of requesting a review of their stakes on the basis of data from the reservoir and production.

Aker BP CEO Karl Johnny Hersvik said to reporters that TotalEnergies had used the option of a redetermination procedure. He added that his company supported this action.

Hersvik stated, "I won't speculate on the outcome of such a procedure but we would not have done it if we weren't expecting a positive result."

Equinor announced last week that Sverdrup will produce 720,000 barrels equivalent of oil per day in average by 2025. This is close to the level it produced in 2023-2024.

Equinor didn't immediately respond to our request for a comment. (Reporting and editing by Terje Sollsvik, Christian Schmollinger and Nerijus Adomiaitis)

(source: Reuters)