Aker BP delivered strong operational performance in the second quarter of 2025, marked by high production efficiency, low costs, and industry-leading low emissions intensity. While production declined compared to the previous quarter due to planned maintenance activities, the company’s field development projects remain firmly on track to support production growth from 2027. In addition, a new oil discovery has been made in the Yggdrasil area. Backed by solid operating cash flow and a robust balance sheet, Aker BP is well positioned to navigate market volatility and continue delivering resilient dividends to its shareholders.
Highlights
- Strong operational performance: Oil and gas production averaged 415 mboepd (441 mboepd in Q1), impacted by planned maintenance. Full-year production guidance has been revised upwards to 400-420 mboepd (from 390-420).
- Low cost: Production cost amounted to USD 7.3 per boe (USD 6.5 in Q1).
- Low emissions intensity: Greenhouse gas emission intensity remained at 2.8 kg CO2e per boe (scope 1 & 2), among the lowest in the global oil and gas industry.
- Projects on track: Field development projects are progressing on schedule – investment estimates revised upwards by approximately six percent reflecting updated assumptions for inflation, labour costs, and currency effects.
- Exploration success: Oil discovery confirmed in the ongoing Omega Alfa well in the Yggdrasil area.
- Financial results: Total income of USD 2.6 billion (USD 3.2 billion in Q1) and cash flow from operations of USD 1.2 billion (USD 2.1 billion in Q1).
- Resilient dividends: Dividends of USD 0.63 per share paid in the quarter – on track to deliver USD 2.52 per share for the full year.
Comment from Karl Johnny Hersvik, CEO of Aker BP
'We continued to deliver strong operational results in the second quarter, with high production efficiency, low emissions, and safe execution across our portfolio. This performance reflects the strength of our teams and the resilience of our operations.'
'Our field development portfolio is progressing according to plan, with several projects even moving ahead of schedule. The final investment decisions on Johan Sverdrup Phase 3 and East Frigg this quarter further demonstrate our ability to turn strategy into action and lay the foundation for future growth.'
'Our robust balance sheet and solid cash flow generation enable us to navigate market volatility with confidence – while continuing to deliver attractive and resilient dividends to our shareholders.'
Attachments
Aker BP 2025-Q2 Report.pdf
Aker BP 2025-Q2 Presentation.pdf
Source: Aker BP
