AKER BP: Leading by Example

In the oil and gas sector—an industry historically linked with high emissions and volatile performance—it’s rare to find a company that not only consistently delivers strong financial and operational results, but also leads the charge towards a more sustainable future. Aker BP, a Norwegian-based exploration and production powerhouse, is doing exactly that.

With robust Q1 2025 results, an expanding portfolio, pioneering partnerships, and a deep commitment to cleaner production, Aker BP is proving that fossil energy can, and must, evolve. It’s a stance that resonates across boardrooms and bunkers alike: the world still needs oil and gas, but it needs them cleaner, safer, and more efficiently than ever before.

“We are making excellent progress across our project portfolio and remain firmly on track to deliver substantial production growth from 2027,” said Karl Johnny Hersvik, CEO of Aker BP. “Our operational performance in Q1 reflects our strong execution capabilities and our commitment to safe, reliable, and low-emission operations.” 

OPERATIONAL STRENGTH 

At the heart of Aker BP’s appeal is its rock-solid operational efficiency. The company delivered an oil and gas production of 441,000 barrels of oil equivalent per day in Q1 2025, achieving 97% production efficiency. Impressively, it maintained a unit production cost of just USD 6.5 per boe, alongside a greenhouse gas intensity of only 2.8 kg CO₂e per boe—placing it among the best performers globally in emissions control.

“Our financial position remains very strong, supported by robust underlying cash flow and a resilient balance sheet,” Hersvik continued. “This gives us the flexibility to navigate market fluctuations, while delivering value to our shareholders.” 

From its headquarters in Lysaker, the company has built a lean but potent operational model, rooted in digital innovation and data-driven decision-making. While peers chase volume, Aker BP pursues value—never losing sight of environmental or safety targets.

STRATEGIC COLLABORATION 

It’s no secret that offshore development is complex and capital-intensive. For Aker BP, success has often come through alliance-based project execution. Its recent five-year extension with SLB and Stimwell Services for the Well Intervention and Stimulation Alliance is a perfect example of this.

The alliance has delivered industry-first achievements like the world’s first autonomous intervention operation and digital workflows that enable real-time decision-making. The result is improved efficiency, lower emissions, and enhanced safety.

Hersvik was bullish about the strategic alignment. “Strategic partnerships are essential to shaping the future of our industry. At Aker BP, we remain committed to the alliance model, which creates value through long-term collaboration. It enables us to increase productivity, maintain world-class performance, and deliver oil and gas with low cost and low emissions. This is how we position ourselves as the E&P company of the future,” he said.

Elsewhere, the Skarv Satellite Project (SSP) has tapped Floatel International to support modifications to the Skarv FPSO. With offshore operations intensifying, a reliable flotel is crucial to ensuring crew safety and operational continuity. 

“Using a flotel at Skarv is an important step for the development of the Skarv area,” said Marte Mogstad, Skarv Director. “It will help ensure that the Skarv production ship continues to produce safely and efficiently for many years to come.” 

Aker BP has also partnered with PXGEO to deploy cutting-edge seismic acquisition technology, boosting efficiency and precision in subsurface understanding. This move is not only about exploration; it’s about smarter resource use with less environmental disruption. 

SMARTER STEWARDSHIP 

In an industry still under scrutiny for its carbon footprint, Aker BP stands out. The company is integrating sustainability into every layer of its strategy—investing in digital platforms, advanced emissions monitoring, and more efficient production technologies. 

“We are proud of our role in both the energy transition and the petroleum industry,” Aker BP said in a recent statement. “We deliver energy with one of the industry’s lowest CO₂ footprints and contribute to reducing emissions across the value chain.” 

Aker BP is taking action, not just talking about it. Through focused initiatives and stringent operational discipline, the company is reducing the emissions intensity of its projects—without compromising reliability. 

This focus on low-carbon leadership is not just about ESG checkboxes. It’s about staying relevant. With many institutional investors shifting toward climate-conscious portfolios, companies like Aker BP are better positioned to attract long-term capital.

NEW FIELDS, NEW FUTURE

Looking ahead, Aker BP is preparing for the future with the same confidence and precision that define its present. In January 2025, the company was awarded 19 new licences—16 as operator—during Norway’s APA 2024 licensing round.

These new fields are a major boost, reinforcing the company’s footprint on the Norwegian Continental Shelf and enhancing its long-term production outlook. The licences will also allow Aker BP to leverage synergies with existing infrastructure and alliances, reducing capex and environmental impact.

The company also took over as operator for the Oda field, a move aligned with efforts to optimise late-life operations and coordinate decommissioning with nearby Ula area assets.

“By transferring the operatorship to Aker BP, Oda will become an integrated part of the optimisation of late-phase operations,” said Talar Arif, Director of the Ula area at Aker BP.

It’s another example of the company thinking strategically, seeing the entire lifecycle of its assets—not just the production peak—as part of its value proposition.

DEMAND STILL STRONG

While the energy transition is real and accelerating, oil and gas remain essential. As the International Energy Agency noted recently, hydrocarbons still play a pivotal role in global energy security and economic development, particularly in industrial applications and heavy transport. The reality? The world will continue to need oil and gas for decades—just produced cleaner, safer, and smarter.

This is the space Aker BP has claimed for itself: not denying the present, not resisting the future, but building a bridge between both.

“Our ambition is clear: Aker BP shall be among the most carbon-efficient operators in the world,” the company states. “That means safe operations, strong partnerships, low emissions, and high value creation.”

POSITIONED TO LEAD

Aker BP’s blend of innovation, discipline, and environmental focus is rare in oil and gas. It’s also essential. As the world continues to evolve its energy mix, companies that combine operational excellence with climate responsibility will define the next era. Aker BP is not just playing its part—it’s writing the playbook.

Whether through intelligent licensing strategy, world-first operational breakthroughs, or bold partnerships with tech leaders, the company has positioned itself as a best-in-class operator in a challenging and high-stakes industry.

As Europe and the wider world look to secure their energy needs in a more sustainable way, Aker BP is ready—with the resources, the people, and the purpose to deliver.