Aker BP

Aker BP is an integrated exploration and production company. Measured in terms of production, Aker BP is one of Europe’s largest independent listed oil companies.

Aker owns 40 per cent of the shares in Aker BP. In 2016, the share price rose from NOK 55.25 to NOK 154.50. Aker’s shareholding was valued at NOK 20.9 billion at year end, including the purchase of Aker BP shares worth approximately NOK 2.6 billion in connection with the BP Norway transaction. The equity investment is equivalent to 48 per cent of Aker’s total assets.

Øyvind Eriksen and Kjell Inge Røkke represent Aker on Aker BP’s board of directors.

Aker BP has become a key player on the Norwegian continental shelf (NCS), and aims to produce 128,000-135,000 barrels of oil equivalents per day in 2017. The company operates almost 100% of the fields in its production portfolio. This provides a foundation for further value creation. Aker BP’s ownership in the Johan Sverdrup field will further boost production from 2020.

Aker BP has adopted ambitious targets for growth in its organic portfolio and through value-generating transactions.

Aker sees the NCS as an attractive investment region. Aker BP paid its first dividend in the fourth quarter of 2016. Aker’s priority is to ensure that it pays foreseeable dividends. Aker expects dividend capacity to increase once production begins in the Johan Sverdrup field. Aker BP aims to be a benchmark for safe, effective and profitable oil and gas activity. Key tools in this regard include LEAN, digitisation and new models for cooperation with suppliers.

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Aker BP

Oslo Børs

Geographic market:
Norwegian continental shelf

Oil and gas

Exploration and production

Share of Aker's total assets (4Q16)

Karl Johnny Hersvik

Øyvind Eriksen