Aker owns 40 per cent of the shares in Aker BP. In 2017, the company’s share price rose from NOK 154.50 to NOK 201.90 In addition, a dividend of NOK 6.09 per share was paid.
Aker’s shareholding was valued at NOK 29 billion at the end of 2017. The equity investment in Aker BP is equivalent to 58 per cent of Aker’s total assets. Øyvind Eriksen and Kjell Inge Røkke represent Aker on Aker BP’s board of directors.
AKER’S OWNERSHIP AGENDA
Aker BP has become a key operator on the Norwegian continental shelf. The company operates almost 100 per cent of the elds in its produc- tion portfolio. This provides a robust foundation for further develop- ment and value creation. Moreover, Aker BP’s ownership interest in the Johan Sverdrup eld will further boost production from 2020 onwards.
Aker BP has adopted ambitious targets for growth in its organic portfolio and through value-generating transactions. The acqui- sition of Hess Norway in the autumn of 2017 has fostered strong value growth and an increase in the company’s oil reserves. Aker sees the Norwegian continental shelf as an attractive target for investment in exploration, development and operations. In 2017, Aker submitted three plans for development and operation in its capacity as operator, for Valhall Flanke Vest, Ærfugl and Skogul.
Going forward, Aker’s priority is to ensure that the company pays predictable dividends. The acquisition of Hess Norway boosted Aker BP’s annual dividend capacity. In January 2018, the company announced to increase the dividend to USD 450 million for 2018, an increase from USD 250 million in 2017. The ambition is to further in- crease the dividend by USD 100 million annually to USD 750 million in 2021. Aker has a 40 per cent share in the oil company’s dividends.
Aker BP aims to be a benchmark for safe, e ective and pro table oil and gas activity. Key tools in this regard include LEAN, digital- isation and models for alliances and cooperation with suppliers. As an example, Aker BP is collaborating with the digital Cognite. Congnite has made a data platform that provides Aker BP with access to historical data and real-time information from the oil elds they operate. Aker BP has already achieved substantial ben- e ts in its cooperation with Cognite.
For more information, please visit www.akerbp.com .