AKER BP ASA

Overview

Aker BP ASA is a Norwegian upstream oil and gas company focused on exploration and production, with crude oil and natural gas as its principal products. Its operations are concentrated on the Norwegian Continental Shelf, where it operates several field centres and holds interests in fields including Johan Sverdrup.[1][2]

The company describes its vision as becoming “the exploration and production company of the future,” with an emphasis on lower emissions, smarter work, collaboration and profitability.[3][4]

For the latest full reporting year, 2025, Aker BP reported total income of USD 10.943 billion and 3,108 employees.[5][6] The company was established in 2016 following the merger of Det norske oljeselskap ASA and BP Norge AS.[7] [1]+6

Products & services

Aker BP’s products are crude oil and natural gas, sold as industrial commodities rather than as finished consumer products. The company does not control the final composition of products made from these commodities, and its reported business is focused on upstream production rather than a separate customer-facing service offering.[1]

In Q2 2026, average sales were 376 thousand barrels of oil equivalent per day: 322 mboepd of liquids (about 86%) and 54 mboepd of natural gas (about 14%). Reported income for the quarter was $3,682 million, including $3,164 million from liquids, $431 million from natural gas, and $87 million from other income.[8] [1][8]

Geographic presence

Aker BP’s operating activities are concentrated on the Norwegian continental shelf. In 2025, it operated the Alvheim, Eiga, Skarv, Ula and Valhall field centres and held a partnership interest in Johan Sverdrup. Its reported licence and well activity spans the North Sea, Norwegian Sea and Barents Sea; the company also holds one exploration licence on the UK shelf.[9]+2 Eiga is in the North Sea and Skarv in the northern Norwegian Sea.[12][13]

The company is headquartered at Fornebu, near Oslo, with branch offices in Harstad, Trondheim, Sandnessjøen and Stavanger. At year-end 2025, all 3,108 reported employees were in Norway.[14][15] Reported export routes include oil transported via Ekofisk to Teesside and gas sent through Norpipe to Emden, Germany; Skarv oil is offloaded to shuttle tankers, while its gas is piped to Kårstø in Norway.[16]+2 The reviewed information describes export routes but does not provide revenue shares by destination country or region. [9]+8

Business segments

Aker BP’s 2026 interim reporting presents consolidated Group results rather than separately named business-segment results; the disclosed business is focused on upstream oil and gas exploration, development and production. Accordingly, the company’s financial disclosures do not provide a supported percentage contribution by business segment.[18]+2

As an operating-project view—not a financial segment breakdown—Aker BP highlights the Yggdrasil area hub, Valhall PWP/Fenris, and tie-back projects at Alvheim, Skarv and Eiga.[21][22] For a measurable contribution proxy, Q2 2026 petroleum revenue was USD 3,597.5 million: liquids contributed about 88.0%, gas about 12.0%, and tariff income about 0.1%. These are product-revenue shares, not business-segment shares.[18] [18]+7

Company history

Aker BP’s corporate roots trace to Pertra, established in 2002 and re-established in Trondheim in 2005. In 2007, Pertra agreed to combine with DNO’s Norwegian interests; the company adopted the name Det norske oljeselskap. Det norske later merged with Aker Exploration, completing the combination in December 2009.[23]+2

The company’s operating history developed alongside major Norwegian Continental Shelf projects: Alvheim began production in 2008, and Johan Sverdrup was discovered in 2010 and started production in 2019.[26][27] In 2014, Det norske acquired Marathon Oil Norge. On 30 September 2016, it completed a combination with BP Norge and became Aker BP ASA, with Aker, BP and former Det norske shareholders as the principal shareholder groups at formation.[28]

Aker BP expanded further by completing its acquisition of Hess Norge in December 2017, bringing interests in the Valhall and Hod fields.[29] On 30 June 2022, the transfer of Lundin Energy’s exploration and production business to Aker BP was completed, substantially enlarging its Norwegian Continental Shelf portfolio.[30] [31]+8

Sources

• AKER BP ASA — Full financial report (2025 Y)
  13 citations

  [1][6][9][10][11][12][13][14][15][16][17][19][20]
• akerbp.com[2]
• akerbp.com[3]
• akerbp.com[4]
• AKER BP ASA — Partial financial report (2025 Y)[5]
• akerbp.com[7]
• AKER BP ASA — Presentation (2026 Q 2)
  3 citations

  [8][21][22]
• AKER BP ASA — Partial financial report (2026 Q 2)[18]
• akerbp.com[23]
• akerbp.com[24]
• akerbp.com[25]
• akerbp.com[26]
• akerbp.com[27]
• akerbp.com[28]
• akerbp.com[29]
• akerbp.com[30]
• AKER BP ASA — Presentation (2025 Y)[31]