Aker BP (ticker: ARC) has entered into an agreement with Equinor Energy (ticker: EQNR) to acquire its 77.8 percent interest in the King Lear gas/condensate discovery in the Norwegian North Sea for a cash consideration of USD 250 million.

CEO of Aker BP, Karl Johnny Hersvik said, "The King Lear discovery is one of the largest undeveloped discoveries on the Norwegian Continental Shelf, and represents an excellent opportunity for Aker BP. Our goal is to develop King Lear as a satellite to Ula. This will improve the capacity utilization at the U...

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