#Norway #Aker BP #Lysaker #Yggdrasil #Omega Alfa

Aker BP Q3 2025 Results: Operational Excellence and Major Oil Discovery

Aker BP has just released its results for the third quarter of 2025, demonstrating robust operational performance, stringent cost management, and remarkable advancements on strategic growth projects. With a production average of 414 thousand barrels of oil equivalent per day (mboepd), the company has shown its resilience amidst fluctuating market conditions. This production figure is consistent with the previous quarter but surpasses earlier expectations. The increase in full-year production guidance to 410-425 mboepd marks an optimistic outlook for the remainder of the year.

Highlights from Q3 2025

1. Stable Production: Aker BP’s average production remained steady, benefiting from high operational uptime and safety measures across its extensive portfolio. Minimal unplanned downtime reinforced its commitment to operational efficiency.
2. Cost Management: An analysis of costs revealed a production cost of USD 7.6 per barrel of oil equivalent (boe), slightly higher than the USD 7.3 in the second quarter. This increase was primarily attributed to planned maintenance activities, highlighting a need for ongoing vigilance in cost control.
3. Environmental Responsibility: In line with industry trends, Aker BP has reported an impressive greenhouse gas emission intensity of 2.9 kg CO2 equivalent per boe. Their commitment to lowering emissions positions them as a leader in sustainability within the oil and gas sector.
4. Advancement of Major Projects: Noteworthy progress was made on several field developments, including Yggdrasil, Valhall PWP-Fenris, Skarv Satellites, and Utsira High. All key milestones for construction and drilling were achieved on time, showcasing Aker BP's capabilities in project delivery.
5. Exploration Success: A highlight of the quarter was the significant discovery of oil at the Omega Alfa site, located in the promising Yggdrasil area. This discovery, estimated to yield between 96 to 134 million barrels of oil equivalent, is one of the largest finds on the Norwegian Continental Shelf in recent years, reaffirming the effectiveness of Aker BP's exploration strategies.
6. Strong Financials: Despite operating in a challenging environment, Aker BP reported total incomes of USD 2.6 billion, consistent with Q2 results. Furthermore, the company reported cash flows from operations amounting to USD 2.0 billion, significantly up from the previous quarter.
7. Stable Dividends: Maintaining a strong commitment to shareholder returns, Aker BP declared a quarterly dividend of USD 0.63 per share, aligning with the full-year dividend target of USD 2.52 per share.

CEO Statement

Karl Johnny Hersvik, the CEO of Aker BP, expressed satisfaction over the quarter's strong results. He articulated, “This quarter, we maintained efficient operations while making substantial progress on key growth projects. The Omega Alfa oil discovery stands out as a clear indicator of our exploration strength and strategic partnerships.” He further emphasized the company's robust financial standing, allowing continued investments in future projects and generating reliable returns for shareholders.

Looking Ahead

As Aker BP navigates through the remaining months of 2025, the company is poised to leverage its robust operational foundation and substantial growth projects. With continued investment in technology and sustainability, Aker BP aims to enhance its footprint while promoting environmental stewardship within the oil and gas industry.

For more detailed information, including the Q3 webcast presentation led by CEO Karl Johnny Hersvik and CFO David Tønne, please visit Aker BP's website.