Equinor and Aker BP launch new partnership to tap tight reservoirs

Equinor and Aker BP disclosed a new collaboration focused on extracting oil and gas from tight reservoirs on the Norwegian shelf, where flow rates are low and development costs are high. The partnership will involve joint licensing, shared use of hydraulic fracturing vessels, and harmonised technical standards to lower per-well expenses. Executives Kjetil Hove and Karl Johnny Hersvik said the effort builds on earlier licence coordination and a previous joint venture with Vår Energi, and they expect the combined expertise to unlock billions of barrels of oil equivalent.

The companies aim to make these challenging fields profitable even at lower oil prices by reducing costs and accelerating technology deployment. They also see the move as a step toward broader industry cooperation to maximise Norway's remaining offshore potential.