Aker BP

Norwegian oil exploration and development company

Aker BP ASA

Company type| Allmennaksjeselskap

Traded as

| Oslo Stock Exchange: AKRBP
Industry| Oil and gas
Predecessor| Pertra ASA
DNO
Aker Exploration
Marathon Oil Norway
BP Norge
Founded| 2016
Headquarters|

Fornebu

Norway

Products| Petroleum
Revenue|  US$13.0 billion (2022)

Operating income

|  US$8.9 billion (2022)
Total assets|  US$32.8 billion (2022)
Total equity|  US$37.5 billion (2022)
Owner| Aker ASA (40%), BP (30%)[1]

Number of employees

| 2,400
Website| www.akerbp.com/en/
Footnotes / references
[2]
Aker BP ASA headquarters in Trondheim

Aker BP ASA is a Norwegian oil exploration and development company focusing on petroleum resources on the Norwegian Continental Shelf.[3] It is present all over Norway. The headquarters are in Fornebu with additional offices in Trondheim, Stavanger and Harstad. The company employs a staff of more than 2,400.[needs update]

## History

[edit]

Det Norske Oljeselskap (now DNO International) was founded in 1971. Pertra was created when the oil exploration and production division of Petroleum Geo-Services was demerged in 2001.

In 2007, the new Det Norske Oljeselskap was created by merger of a Norwegian oil company Pertra and the Norwegian interests of DNO.[4] In 2009, a Norwegian oil company Aker Exploration merged with Det Norske Oljeselskap. On May 21, 2013, the company announced it had produced its first oil as an operator from the Jette field in the Norwegian sector of the North Sea.[5]

In 2014, Det Norske Oljeselskap bought Marathon Oil's Norwegian subsidiary Marathon Oil Norway for US$2.7 billion. The sale included the Alvheim floating production vessel and 10 active licenses on the Norwegian continental shelf in the North Sea.[6]

In 2016, Det Norske Oljeselskap purchased BP subsidiary BP Norge for US$140 million in cash and US$1.3 billion in stock. The deal left Aker ASA, the industrial investment company controlled by Kjell Inge Røkke, with 40 percent of the merged company's stock, BP with 30 percent, and other public shareholders with the remaining 30 percent. The merger created Norway's largest independent petroleum producer (by volume).[7]

Swedish petroleum company Lundin Energy was purchased by Aker BP in July 2022 in a deal worth more than US$14 billion.[8]

## References

[edit]

1. ^ "2020 Annual Report" (PDF). akerbp.com. Retrieved 18 November 2021.
2. ^ Aker BP (February 9, 2023). Quarterly Report Q4 2022 (PDF) (Report). Retrieved February 12, 2023.
3. ^ "About the company". Archived from the original on 2012-04-30. Retrieved 2012-05-05.
4. ^ "Pertra, NOIL merge to form second-largest Norwegian operator". Oil & Gas Journal. Houston. October 10, 2007. Retrieved January 4, 2021.
5. ^ "Det Norske: Jette Field Comes on Stream". Offshore Energy Today. 21 May 2013.
6. ^ "Marathon Oil sells Norway business for $2.7B". USA Today. June 2, 2014. Retrieved February 12, 2023.
7. ^ Milne, Richard; Stacey, Kiran (June 10, 2016). "Det norske acquires BP's Norway unit in cash and stock deal". The Financial Times. Retrieved February 12, 2023.
8. ^ "Aker BP completes $14bn acquisition of Lundin Energy's E&P business". Offshore Technology. July 1, 2022. Retrieved February 12, 2023.

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