Aker BP reports first quarter 2025 results
Aker BP delivered another strong operational quarter, supported by high production efficiency, low costs, and low emissions. The project portfolio remains on track to enable production growth from 2027, while two new discoveries have further strengthened our future development pipeline. With solid cash flow and a robust balance sheet, the company is well positioned to navigate market volatility and continue delivering resilient dividends to shareholders.
Highlights
- Strong operational performance: Oil and gas production reached 441 (449) thousand barrels of oil equivalent per day (mboepd) during the quarter. The full year guidance remains unchanged at 390-420 mboepd.
- Low cost: Production cost amounted to USD 6.5 (5.7) per barrel.
- Low emissions: Greenhouse gas emission intensity was 2.8 (2.5) kg CO2e per boe (scope 1 & 2), ranking among the lowest in the global oil and gas sector.
- Projects on track: Field development projects progressing according to plan, with overall capex estimates unchanged.
- Exploration success: Resource base strengthened with two new discoveries.
- Strong financial results: Total income of USD 3.2 (3.1) billion, net profit of USD 316 (562) million and cash flow from operations of USD 2.1 (1.1) billion for the quarter.
- 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
"Aker BP delivered strong operational performance this quarter, underscoring our commitment to safe, reliable, and low-emission operations. Efficient production and disciplined cost management remain key pillars of our success, and we once again achieved an outstanding production efficiency of 97 percent across our portfolio."
"We are making excellent progress across our project portfolio and remain firmly on track to deliver substantial production growth from 2027. In parallel, we continue to build our long-term value creation potential, with two new discoveries this quarter further enhancing our portfolio of future development opportunities."
"Our financial position remains very strong, supported by robust underlying cash flow and a resilient balance sheet. This gives us the flexibility to navigate market fluctuations, while continuing our disciplined approach to capital distribution. We remain fully committed to delivering value to our shareholders through stable and predictable dividends."
Webcast presentation
The presentation will be webcasted today at 08:30 CEST on www.akerbp.com, hosted by CEO Karl Johnny Hersvik and CFO David Tønne. The presentation will be followed by an online Q&A session.