Aker BP, headquartered in Fornebu, Norway, is a prominent player in the oil and gas industry, focusing on exploration, development, and production on the Norwegian Continental Shelf (NCS). Established in 2016 through the merger of BP Norge and Det Norske Oljeselskap, Aker BP has rapidly become one of Norway’s largest independent energy companies, with a market capitalization of over $20 billion (2025).
History and Milestones
Aker BP’s origins trace back to two key Norwegian companies: Det Norske Oljeselskap and BP Norge. The merger combined BP’s global expertise with Det Norske’s deep understanding of Norwegian resources, creating a powerhouse in offshore oil and gas.
Key milestones include:
2016: Formation of Aker BP through the merger of BP Norge and Det Norske Oljeselskap.
2018: Acquisition of Hess Norge, significantly increasing its asset base.
2020: Launch of digital transformation initiatives, leveraging AI and automation in operations.
2022: Major discoveries in the NOAKA area, one of the largest undeveloped oil fields on the NCS.
Products and Services
Aker BP focuses on the following areas:
Oil and gas exploration: Extensive operations across the NCS.
Production: Efficient extraction of hydrocarbons using advanced technology.
Digitalization: Developing smart solutions for safer, more efficient operations.
Business Model
Aker BP’s business model emphasizes efficiency, collaboration, and sustainability:
Partnerships: Collaborates with Aker ASA and other stakeholders for technological innovation.
Low-cost production: Focused on maintaining competitive production costs.
Sustainability goals: Striving to reduce its carbon footprint and support the energy transition.
Impact on the Nordics and Global Markets
Aker BP plays a vital role in Norway’s energy landscape and global markets:
Economic contribution: A significant source of revenue and employment in Norway.
Energy security: Supplies a stable flow of oil and gas, especially to Europe.
Technological innovation: Pioneering digital and sustainable solutions in offshore energy.
Sustainability Initiatives
Aker BP is committed to responsible energy production and supporting the energy transition:
Carbon reduction: Investing in electrification of offshore platforms and carbon capture technologies.
Renewable energy partnerships: Exploring offshore wind opportunities in collaboration with other Norwegian firms.
Efficient operations: Leveraging AI and digital twins to minimize environmental impact.
Aker BP represents Norway’s expertise in oil and gas while embracing the future of energy. Through innovation, sustainability, and strategic partnerships, Aker BP is positioning itself as a leader in the global energy transition, ensuring its continued relevance in an evolving market.
Read more on Akerbp.com
