Aker BP ASA (OTCMKTS: AKRBF) is a leading independent exploration and production company operating on the Norwegian Continental Shelf. The company engages in the full upstream value chain, encompassing exploration, appraisal, development and production of crude oil and natural gas. Its portfolio spans a broad range of assets, from greenfield exploration to mature fields, and relies on advanced subsea and digital technologies to optimize recovery and reduce unit costs.
The company’s principal operations are concentrated in the North Sea, Norwegian Sea and the Barents Sea, where it holds interests in several large-scale offshore fields. Key assets include Johan Sverdrup—one of the largest oil discoveries on the Norwegian shelf in recent decades—as well as Valhall, Ula, Alvheim, Skarv and Fenja. Aker BP combines a diverse asset base with a focus on lowering break-even costs through integrated project management, subsea tie-backs and continuous reservoir optimization.
Aker BP was established in January 2016 through the merger of Det Norske Oljeselskap ASA and BP Norge AS, bringing together the technical expertise of Aker ASA and the global petroleum experience of BP. Since its formation, the company has pursued a disciplined growth strategy, combining organic field development with strategic acreage commitments and farm-in opportunities. Aker BP is known for pioneering digital field solutions, including autonomous operations and real-time reservoir monitoring.
Headquartered in Forus, near Stavanger, Norway, Aker BP is led by Chief Executive Officer Karl Johnny Hersvik, who has driven the company’s strategic direction since its inception. The board of directors comprises industry professionals with extensive backgrounds in petroleum engineering, finance and energy policy. Together, management and the board continue to focus on safe, cost-efficient operations, environmental performance and long-term value creation for stakeholders.
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