DNO streamlines Norwegian portfolio through multi-asset swap with Aker BP

(WO) — DNO ASA has strengthened its position in one of its core Norwegian Sea developments through a multi-asset swap with Aker BP ASA, the company announced on Wednesday.

Under the agreement, DNO will increase its ownership in the Verdande field, part of the Norne area on the Norwegian Continental Shelf, from 10.5% to 14%. Verdande is currently in advanced development and is scheduled to begin production later this year.

In exchange, DNO will transfer its interests in the Vilje field, the Kveikje discovery, and three exploration licenses—PL1171 (Sunndal), PL1175 (Reka), and PL1204 (Abel)—to Aker BP. The transaction involves no cash consideration and remains subject to regulatory approval.

The swap aligns with DNO’s ongoing strategy to highgrade its North Sea portfolio, following its acquisition of Sval Energi AS in mid-2025.

Founded in 1971, DNO operates across the Middle East, North Sea, and West Africa, with producing assets in Iraq’s Kurdistan region and offshore Norway and the UK.