Aker BP
A Norwegian upstream oil and gas company focused on exploration, development and production on the Norwegian Continental Shelf.
Last updated August 21, 2026
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Overview
Aker BP ASA is a Norwegian oil exploration, development and production company whose activities are concentrated on the Norwegian Continental Shelf. The company is headquartered in Fornebu and maintains additional offices in Trondheim, Stavanger and Harstad, giving it an operating presence across important Norwegian petroleum regions. It employs more than 2,400 people according to the referenced company and encyclopedia material. The modern Aker BP was created in 2016 when Det Norske Oljeselskap combined with BP’s Norwegian upstream business, BP Norge. The transaction brought together Det Norske’s exploration and development platform with BP’s Norwegian licenses, producing interests and operating capabilities. The resulting company became one of Norway’s largest independent petroleum producers by volume and retained a listing on the Oslo Stock Exchange under the ticker AKRBP. Aker ASA, the investment company associated with industrialist Kjell Inge Røkke, became a major shareholder of the merged business, while BP also retained a substantial holding at the time of the transaction. Aker BP’s business is organized around the upstream petroleum value chain. It searches for hydrocarbons, acquires and manages licenses, evaluates discoveries, develops offshore fields and produces crude oil and natural gas. Its portfolio includes operated and non-operated interests in fields and infrastructure on the Norwegian Continental Shelf. The company’s production is therefore closely connected to Norway’s licensing framework, offshore engineering base, pipeline and processing network, and the broader North Sea energy system. The company’s corporate lineage extends beyond the 2016 transaction. Det Norske’s predecessor companies included DNO-related Norwegian operations and Pertra, which was created in 2001 after the demerger of Petroleum Geo-Services’ exploration and production division. Pertra and DNO’s Norwegian interests were combined in 2007 to form a new Det Norske Oljeselskap. Det Norske later merged with Aker Exploration in 2009, then expanded significantly through its 2014 acquisition of Marathon Oil Norway. That purchase added the Alvheim floating production, storage and offloading vessel and ten active Norwegian Continental Shelf licenses. Aker BP continued to enlarge its asset base after formation. In July 2022 it completed the acquisition of Lundin Energy’s oil and gas business in a transaction valued at more than US$14 billion according to the referenced material. The deal materially increased the scale of Aker BP’s Norwegian portfolio and strengthened its position as a leading independent operator in the country. Aker BP is positioned as a focused Norwegian Continental Shelf operator rather than a geographically diversified international energy major. Its strategy emphasizes resource growth, field redevelopment, offshore project execution, production from established assets and the use of common infrastructure. The company’s principal commercial outputs are crude oil and natural gas. As an upstream producer, it does not primarily operate a consumer-facing fuel or retail brand; its brand is associated instead with offshore petroleum operations, project development, technical expertise and participation in Norway’s national energy sector.
History
Aker BP’s history is rooted in a series of Norwegian exploration and production businesses that were progressively combined before the company adopted its present identity. One predecessor, Det Norske Oljeselskap, can trace its lineage to DNO’s Norwegian petroleum activities, while another important predecessor was Pertra. Pertra was established in 2001 when Petroleum Geo-Services separated its oil exploration and production division into a standalone company. In 2007, Pertra merged with the Norwegian interests of DNO to create a new Det Norske Oljeselskap. The enlarged company pursued exploration and development opportunities on the Norwegian Continental Shelf. In 2009, it merged with Aker Exploration, adding another Norwegian exploration platform and strengthening its connection with the Aker industrial and investment group. Det Norske reached an important operating milestone on 21 May 2013, when it announced first oil production as operator from the Jette field in the Norwegian sector of the North Sea. The event demonstrated the company’s progression from an exploration-focused business toward a company capable of operating producing offshore assets. In 2014, Det Norske acquired Marathon Oil’s Norwegian subsidiary, Marathon Oil Norway, for approximately US$2.7 billion. The acquired portfolio included the Alvheim floating production, storage and offloading vessel and ten active licenses on the Norwegian Continental Shelf. This transaction materially increased Det Norske’s producing base and license inventory. The decisive corporate transformation took place in 2016. Det Norske purchased BP Norge, BP’s Norwegian upstream business, for consideration described in the reference material as US$140 million in cash and US$1.3 billion in shares. The combined business adopted the Aker BP name. Following the transaction, Aker ASA held approximately 40 percent of the merged company, BP held approximately 30 percent, and other public shareholders held the remaining interest at that time. The merger created one of Norway’s largest independent petroleum producers by volume and combined exploration, development, production and offshore operating capabilities. After its formation, Aker BP continued to build its position through license activity, field development, production operations and portfolio transactions. Its operations remained concentrated on the Norwegian Continental Shelf, where the company could use Norway’s offshore infrastructure, industrial supply chain and petroleum licensing system. The company operates from Fornebu and has offices in Trondheim, Stavanger and Harstad, reflecting its presence across Norway. In July 2022, Aker BP acquired Lundin Energy’s oil and gas business in a transaction worth more than US$14 billion according to the cited reference material. The acquisition substantially expanded the company’s Norwegian portfolio and reinforced its position among the country’s largest independent upstream companies. Today, Aker BP is an Oslo-listed Norwegian exploration and production company. Its activities cover the discovery, appraisal, development and production of petroleum resources, with crude oil and natural gas as its principal outputs. Unlike an integrated international oil company, its identity is centered on a geographically focused Norwegian offshore portfolio. Its development is consequently shaped by Norwegian resource policy, licensing rounds, environmental and regulatory requirements, offshore technology, field economics and the availability of shared production and transport infrastructure.
- 2022
Lundin Energy oil and gas business is acquired
[1]Aker BP acquired Lundin Energy’s oil and gas business in a transaction valued at more than US$14 billion according to the cited reference material.
- 2016
Aker BP is created
[2]Det Norske Oljeselskap combined with BP Norge, BP’s Norwegian upstream business, to create Aker BP.
- 2014
Marathon Oil Norway is acquired
[1]Det Norske bought Marathon Oil Norway for approximately US$2.7 billion, adding the Alvheim floating production vessel and ten active licenses.
- 2013
First operated oil from Jette
[1]Det Norske announced first oil production as operator from the Jette field in the Norwegian sector of the North Sea on 21 May.
- 2009
Aker Exploration merges with Det Norske
[1]Aker Exploration combined with Det Norske Oljeselskap, expanding the company’s Norwegian exploration platform.
- 2007
A new Det Norske Oljeselskap is formed
[1]Pertra merged with the Norwegian interests of DNO, creating a new Det Norske Oljeselskap.
- 2001
Pertra is established
[1]Pertra was created after Petroleum Geo-Services separated its oil exploration and production division into a standalone company.
Products and positioning
A focused, independent Norwegian Continental Shelf upstream oil and gas operator.
Upstream petroleum product
Crude oil
Aker BP produces crude oil from offshore fields on the Norwegian Continental Shelf. Oil production comes from operated and non-operated field interests and forms a major part of the company’s upstream portfolio. Production is handled through offshore facilities and associated infrastructure before entering the wider energy supply chain.
Upstream petroleum product
Natural gas
Natural gas is another principal output of Aker BP’s Norwegian offshore assets. The company participates in gas exploration, field development and production, with gas volumes transported through the infrastructure serving the Norwegian Continental Shelf and European energy markets.
Brand decisions
2022
Acquire Lundin Energy’s oil and gas businessM&ABackground
Aker BP pursued a major portfolio expansion within its core Norwegian Continental Shelf area.
Action taken
Aker BP acquired Lundin Energy’s oil and gas business.
Aftermath
The transaction increased Aker BP’s scale and strengthened its position as a leading independent Norwegian upstream operator.
Transaction value. More than US$14 billion (July 2022)
2016
Combine Det Norske with BP NorgeM&ABackground
Det Norske sought to expand its Norwegian production base and license portfolio by combining with BP’s Norwegian upstream business.
Action taken
The companies completed the transaction through a combination of cash and shares, creating Aker BP.
Aftermath
The enlarged company became one of Norway’s largest independent petroleum producers by volume and continued as an Oslo-listed upstream company.
Transaction consideration. US$140 million in cash and US$1.3 billion in shares (2016)
Recent events
- Unconfirmed
DNV acquires Equinor's WellSpot digital solution[4]
DNV has agreed to acquire WellSpot, a digital wellhead fatigue management solution developed and operated by Equinor over the past 15 years. The software, renamed Wellhead Fatigue Manager, will be commercialized and operated by DNV, with Equinor and AkerBP as first users.
- Unconfirmed
Aker BP to acquire Apache's interest in Losgann/Froskelår discovery[5]
Aker BP signed an agreement with Apache to acquire Apache's operated interest in the UK part of the Losgann discovery, which together with the Froskelår discovery on the Norwegian Continental Shelf forms a single cross-border accumulation on the UK–Norway median line. The transaction is subject to approval by relevant authorities and customary completion conditions.
- Unconfirmed
Aker BP to acquire operatorship and 51% interest in Slagugle area[5]
Aker BP signed an agreement with ConocoPhillips Skandinavia AS to acquire operatorship and a 51 percent working interest in the Slagugle area in the Norwegian Sea. Following completion, ConocoPhillips will retain a 29 percent non-operated interest, while INPEX Idemitsu Norge AS holds the remaining 20 percent. The transaction is subject to approval by the relevant authorities and other customary completion conditions.
DNV acquires Equinor's WellSpot subsea wellhead monitoring technology[6]
DNV has agreed to acquire Equinor's WellSpot digital technology and will commercialize the platform as Wellhead Fatigue Manager, expanding its capabilities for monitoring and managing fatigue across the lifecycle of subsea wells. Equinor and Aker BP will be the first users of the DNV-operated platform. Financial terms were not disclosed.
- Unconfirmed
Reported
SLB launches ExaCT electrical downhole coiled tubing control system[7]
SLB launched the ExaCT electrical downhole coiled tubing control system, an intervention platform that replaces pressure-dependent hydraulic actuation with electrical communication, power delivery and telemetry to provide real-time downhole control. Field deployments reportedly delivered 30–40% faster intervention, 15–20% lower operational costs, about 30% faster offshore cleanout for Aker BP offshore Norway, and about 20% less liquid and nitrogen use.
- Unconfirmed
Reported
Aker BP agrees to acquire operatorship and 51% interest in the Slagugle area[8]
Aker BP signed an agreement with ConocoPhillips Skandinavia AS to acquire operatorship and a 51 percent working interest in the Slagugle area in the Norwegian Sea. Following completion, ConocoPhillips will retain a 29 percent non-operated interest, while INPEX Idemitsu Norge AS holds the remaining 20 percent. The transaction is subject to approval by relevant authorities and customary completion conditions.
- Unconfirmed
Aker BP to acquire Apache interest in Losgann/Froskelår and ConocoPhillips operatorship in Slagugle[9]
Aker BP has entered into two separate transactions to strengthen its positions near existing infrastructure on the Norwegian Continental Shelf: an agreement with Apache to acquire its operated interest in the UK part of the Losgann discovery (which together with Froskelår forms a cross-border accumulation), and an agreement with ConocoPhillips Skandinavia AS to acquire operatorship and a 51 percent working interest in the Slagugle area in the Norwegian Sea. Both transactions are subject to approval by the relevant authorities and other customary completion conditions.
Reported
Aker BP acquires interests in Losgann/Froskelår and Slagugle discoveries[10]
Aker BP has entered into two separate transactions to strengthen its positions near existing infrastructure on the Norwegian Continental Shelf. In the North Sea, it agreed to acquire Apache's interest in the Losgann/Froskelår discovery near the Alvheim area. In the Norwegian Sea, it signed an agreement with ConocoPhillips Skandinavia to acquire operatorship and a 51 percent working interest in the Slagugle area near the Skarv field; ConocoPhillips will retain a 29 percent non-operated interest and INPEX Idemitsu Norge AS holds 20 percent.
Reported
Aker BP and Lundin Energy announce merger agreement[11]
Aker BP announced an agreement to acquire Lundin Energy's oil and gas activities through a statutory merger. The transaction remained subject to shareholder and regulatory approvals, with completion targeted for the second quarter of 2022.
Sources11 sources
- 1Aker BPen.wikipedia.org
- 2Aker BP historyakerbp.com
- 3Aker BPakerbp.com
- 4DNV收购Equinor的WellSpot数字解决方案euro-petrole.com
- 5Aker BP 拟收购 Apache 在 Losgann/Froskelår 发现中的权益oilandgasonline.com
- 6DNV收购Equinor的WellSpot海底井口监测技术worldoil.com
- 7SLB推出ExaCT电动井下连续油管控制系统oilreviewmiddleeast.com
- 8Aker BP同意收购Slagugle地区作业权及51%权益energy-pedia.com
- 9Aker BP拟收购Apache在Losgann/Froskelår的权益及ConocoPhillips在Slagugle的作业权euro-petrole.com
- 10Aker BP收购Losgann/Froskelår和Slagugle发现区权益oedigital.com
- 11Aker BP与Lundin Energy宣布合并协议prnewswire.co.uk
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