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Aker BP

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Norwegian oil exploration and development company
Aker BP ASA
Company typeAllmennaksjeselskap
Oslo Stock ExchangeAKRBP
IndustryOil and gas
PredecessorPertra ASA
DNO
Aker Exploration
Marathon Oil Norway
BP Norge
Founded2016 Edit this on Wikidata
Headquarters,
Norway
ProductsPetroleum
RevenueIncrease US$13.0 billion(2022)
Increase US$8.9 billion(2022)
Total assetsIncrease US$32.8 billion(2022)
Total equityIncrease US$37.5 billion(2022)
OwnerAker ASA (40%),BP (30%)[1]
Number of employees
2,400
Websitewww.akerbp.com/en/
Footnotes / references
[2]
Aker BP ASA headquarters inTrondheim

Aker BP ASA is a Norwegian oilexploration and development company focusing onpetroleum resources on theNorwegian Continental Shelf.[3] It is present all over Norway. The headquarters are inFornebu with additional offices inTrondheim,Stavanger andHarstad. The company employs a staff of more than 2,400.[needs update]

History

[edit]

Det Norske Oljeselskap (nowDNO International) was founded in 1971. Pertra was created when theoil exploration and production division ofPetroleum Geo-Services wasdemerged in 2001.

In 2007, the new Det Norske Oljeselskap was created bymerger 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 boughtMarathon 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 purchasedBP subsidiary BP Norge for US$140 million in cash and US$1.3 billion in stock. The deal leftAker ASA, the industrial investment company controlled byKjell 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 companyLundin 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. Retrieved18 November 2021.
  2. ^Aker BP (February 9, 2023).Quarterly Report Q4 2022(PDF) (Report). RetrievedFebruary 12, 2023.
  3. ^"About the company". Archived fromthe original on 2012-04-30. Retrieved2012-05-05.
  4. ^"Pertra, NOIL merge to form second-largest Norwegian operator".Oil & Gas Journal. Houston. October 10, 2007. RetrievedJanuary 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. RetrievedFebruary 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. RetrievedFebruary 12, 2023.
  8. ^"Aker BP completes $14bn acquisition of Lundin Energy's E&P business".Offshore Technology. July 1, 2022. RetrievedFebruary 12, 2023.
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