Aker BP buys Equinor's operated stake in King Lear for US$250m
Equinor has announced the sale of its HP/HT King Lear and Julius discoveries in Norway, to Aker BP for US$250 million. This deal continues an active period of portfolio rationalisation for Equinor in Norway. Aker BP's remarkable growth story continues as it consolidates around core areas – the 77.8% operated stake in the King Lear Area lies 50 kilometres to the south of its Ula hub, where it will tie-in. Getting assets in the right hands can unlock challenging projects and King Lear is a prime example. Aker BP is planning to make a workhorse out of the King Lear Area, reinjecting a large percentage of the produced gas into the Ula reservoir.