Equinor Cuts Six NCS Licence Stakes and Gains 7.5% Wisting Interest for $23M
EQNR•Equinor will transfer a 19% interest in six Norwegian Shelf licences and 38.16% of UK licence P2343 to Aker BP, acquiring a 7.5% stake in Wisting and receiving $23 million cash. The deal aligns with Equinor’s strategy to streamline its oil and gas portfolio towards a 2027 NCS FID.
1. Deal Structure
Equinor is selling a 19% interest in six Norwegian Shelf licences (PL 090JS, PL 248I, PL 925, PL 248C, PL 630 and PL 923) and a 38.16% stake in UK licence P2343 to Aker BP. In return, Equinor will acquire a 7.5% interest in the Wisting discovery and receive $23 million in cash.
2. Strategic Rationale
The transaction supports Equinor’s goal to streamline its oil and gas portfolio on the Norwegian Continental Shelf and focus on high-value, timely developments. By synchronising ownership with Aker BP in key areas like Ringvei Vest and Frigg-Omega Alfa, Equinor aims to optimise resource development and unlock additional value.
3. Ownership and Financial Impact
Post-deal, Equinor will hold 7.5% of the Barents Sea Wisting project while Aker BP’s stake will rise to 27.5%, keeping Equinor as operator. The $23 million cash payment bolsters Equinor’s liquidity ahead of the targeted 2027 final investment decision for Wisting.
