Aker BP

Aker BP is an integrated exploration and production company operating on the Norwegian continental shelf. The acquisition of Marathon Oil Norway has given Aker BP considerable reserves and oil production operations.

Aker’s engagement
Aker owns 49.99 per cent of the shares in Aker BP. The company’s share price rose from NOK 39.87 to NOK 55.25 in 2015. Aker’s shareholding was valued at NOK 5.6 billion as at 31 December 2015, equivalent to 20 per cent of Aker’s total assets at the end of the year. Øyvind Eriksen and Kjell Inge Røkke represent Aker on Aker BP's board of directors.

Aker’s ownership agenda
The market for oil is cyclical, and oil prices are volatile. Nevertheless, Aker believes that demand for oil and gas will remain robust in the long term, and therefore has great confidence in Aker BP’s long-term value potential.

In its ownership capacity, Aker is focused on Aker BP’s continued growth, both organically and through strategic acquisitions. Moreover, Aker BP is to function as a benchmark for safe, efficient and profitable offshore oil and gas activity. A further priority is to deliver the Ivar Aasen development as agreed in terms of deadlines, quality and price. Other important milestones for Aker BP include the start of production from the Johan Sverdrup field in 2019. Higher production is expected to generate significant investment and dividend capacity for Aker BP.

Aker BP

Oslo Børs

Geographic market:
Norwegian continental shelf

Oil and gas

Exploration and production

Share of Aker's gross asset value (4Q15)

Karl Johnny Hersvik

Øyvind Eriksen