Equinor (EQNR) and BP (BP) joint venture Aker BP have agreed on several transactions to boost production across their portfolio on the Norwegian Continental Shelf, the companies said Thursday.

Under the agreement, Equinor will divest a 19% interest in several discoveries in the Ringvei Vest area to Aker BP.

Equinor will also divest a 38.16% interest in the Frigg UK license to Aker BP for the joint development of the Omega Alfa discovery, the companies said.

In exchange, Equinor will increase its ownership stake in the Wisting discovery to 42.5% from 35%, while Aker BP will pay Equinor a cash consideration of $23 million as part of the transactions, the companies said.

Equinor and Aker BP said the transactions are effective Jan. 1, 2026, and are subject to regulatory approvals.