Who we are

Aker BP explores for and produces oil and gas on the Norwegian continental shelf. In production we are one of the largest independent listed oil companies in Europe.

The company operates the field centres Valhall, Ula, Edvard Grieg/Ivar Aasen, Alvheim and Skarv, and is a partner in the Johan Sverdrup field.

Our headquarters is in Fornebu, outside Oslo, and we have offices in Stavanger, Trondheim, Harstad and Sandnessjøen.

Aker BP is listed on the Oslo Stock Exchange with the ticker AKRBP.

We produce energy that the world needs, and create value for the Norwegian society and our shareholders.​

Key information (2025)

CEO
Karl Johnny Hersvik

Ownership
Aker ASA (21,2 %)
BP (15,9 %)
Other (63 %)

Employees
~3,000

Production
420 thousand barrels
per day

Licenses
190

Earnings
USD 10,9 billion 

Aker BP’s oil and gas is produced with an industry-leading low greenhouse gas intensity.

Values

Our values are seekers, accountable, foreseeable, enthusiastic and respectful.

We are curious and seek out new and better solutions. We put safety first and strive to create value for our owners and for society. We have high ethical standards. We value diversity and respect our colleagues and those we cooperate with.

Ethics and compliance

Our Code of Conduct is our main governing document that sets out requirements and expectations for ethical business conduct. The code of conduct applies for Aker BP’s employees and those acting for or on behalf of Aker BP.

Aker BP has zero tolerance for corruption and our anti-corruption policy provides a detailed guidance to employees and those acting on behalf of Aker BP to identify and prevent corruption in their day to day work.

We support and acknowledge fundamental human and labour rights principles as reflected in our Human Rights Policy.

In Aker BP we encourage employees to speak up about negative conditions which are in breach of Aker BP’s Code of Conduct, policies, procedures and any applicable rules. We also welcome concerns raised by external parties who work for or with Aker BP.

We are committed to living up to our values and reputation. Robust, fair and ethically responsible business practices are crucial for our success.

Strategy


Our vision is to be the exploration and production company of the future

Our strategic beliefs

Our vision is based on the belief that the world needs affordable, sustainable and reliable energy, and that oil and gas will remain a crucial part of the energy mix for decades to come. As a reliable energy producer, we are dedicated to supplying low-cost oil and gas produced with low greenhouse gas emission intensity.

The world needs affordable, sustainable and reliable energy

Oil and gas will remain a crucial part of the energy mix

New investments will be needed for decades to come

Low-cost barrels from Norway, produced with low greenhouse gas intensity, are well-positioned

Our strategic priorities

Our strategy defines how we will achieve our vision to be the exploration and production company of the future. We have identified six strategic priorities to realise this vision, and these are backed up by concrete action plans. Below follows a summary of the six priorities:

Operate safely and efficiently

Operating safely and efficiently is the basis of our company. We prioritise the safety of our people and integrity of our operations. Our goal is to be the best in safety and uptime, with industry-leading production costs.

Decarbonise our business

We are reducing greenhouse gas emissions from our own operations (scope 1 and 2) while contributing to meet the energy demands of Europe and the world. We aim to minimise the environmental footprint of our activities by actively seeking and implementing advanced technologies and innovative practices.

Deliver growth on quality, cost and time

We sanctioned a diversified portfolio of highly attractive development projects at the end of 2022. Delivering this portfolio on quality, cost and time is one of our top priorities and is critical to maximising value creation and growing our production.

Establish the next wave of profitable growth options

We aim to maintain a strong portfolio of new development opportunities through active exploration, leveraging advanced technologies and innovation to enhance our resource potential, and pursuing strategic business development opportunities that drive value.

Lead the transformation of exploration and production

We believe that the exploration and production company of the future is the one that best adapts to a new reality with increasingly higher demands for safe operations, low emissions and cost efficiency. As the Norwegian continental shelf becomes more complex, our goal is to develop smaller, more complex discoveries faster and at lower costs. To achieve this, we must transform Aker BP by leveraging technology, artificial intelligence and digitalisation. We will lead the transformation of exploration and production.

Create the most attractive place to work

Our people are our most important asset to deliver on our ambitious agenda.

Strategic goals

Zero
serious incidents

Uptime
over 95%

Production cost
below 7 USD/boe

Equity share scope
1 and 2 GHG
intensity below
 4 kg CO2e/boe

Our purpose is to return maximum value to our shareholders and our society

The rebel revolution 

 
The future on the Norwegian continental shelf consists of smaller discoveries, more complex reservoirs, and tougher competition.  

To create profitable production in the decades ahead, Aker BP intends to take the lead in a productivity revolution.  

We aim to make marginal resources profitable by increasing speed and reducing costs. Not just a little, but significantly. 

Yggdrasil, Norway’s largest field development project, points the way forward. A completely new standard with remote operations, low-manned and unmanned installations, a digital ecosystem that mirrors reality, and facilitates increased automation.

The Kjøttkake discovery in the North Sea demonstrates how important pace is for a future where an increasing number of smaller finds aim to be made profitable by being tied into existing fields. The Kjøttkake team aims for production three years after discovery. New ways of working, short decision processes, and one integrated team set a new standard. 

Omega Alfa, a stranded prospect that became one of the decade’s largest finds on the Norwegian continental shelf, shows the power of collaboration: operator, partners, and suppliers united around shared data, ambitious targets, and new drilling methods that pushed boundaries. 

And at Fenris we have shown that even extreme reservoirs can be produced: high pressure and high temperature have been addressed with specialised expertise, technology, and an uncompromising approach to safety. 

These are not isolated events. 
It is a pattern. 

The Aker BP rebels combine industry-leading expertise with the willingness to challenge the established. We work in alliances, share risk and reward, and build one integrated value chain from exploration drilling to operations. 

This is combined with ten years of targeted work with technology and data, enabling us to harness the power of artificial intelligence.  

Together, this aims to result in reduced costs, higher speed, and more profitable production in the years ahead. 

This is what is ‘The rebel revolution’. 

This is what defines Aker BP.  

The exploration and production company of the future. 

We had a cause. 
We acted. 
Now we reinvent. 
The rebel revolution. 

Alliances

Aker BP restructures the value chain. Working in alliances with strategic partners changes the way we work. The partnerships work as a separate organisation, and carry out the projects faster and better.

The purpose of the alliance model is to create value for the alliance partners through long-term collaboration.

Aker BP works with strategic partners in seven alliances. The objective is to plan and carry out the field developments and drilling operations in a safe and cost-effective manner, and set a new standard for deliveries on the Norwegian shelf.

Each alliance is assembled to solve specific tasks, and to make better use of the project potential of the project. As a result we spend fewer engineering hours and reduce both costs and construction hours in the projects.

Building strong, long-term relationships with alliance partners breeds trust, continuous learning and shared success. We improve quality while reducing time and cost. This creates value for all Alliance partners.

Ragnhild Abercrombie
VP D&W – Operations Intervention Alliance

Aker BP’s alliances

  • The Subsea Alliance: Aker BP, Subsea 7 and OneSubsea
  • The Fixed Facility Alliance: Aker BP, Siemens and Aker Solutions
  • The Fixed Facility Alliance: Aker BP, ABB and Aker Solutions
  • The Modification Alliance: Aker BP and Aker Solutions
  • The Jack-Up Alliance: Aker BP, Noble and Halliburton
  • The Semi Alliance: Aker BP, Odfjell Drilling and Halliburton
  • The Intervention and Stimulation Alliance: Aker BP, SLB and Stimwell

Read more about why we work in alliances here.