Who we are
Aker BP explores for and produces oil and gas on the Norwegian continental shelf. In production we are one of the largest independent listed oil companies in Europe.
The company operates the field centres Valhall, Ula, Edvard Grieg/Ivar Aasen, Alvheim and Skarv, and is a partner in the Johan Sverdrup field.
Our headquarters is in Fornebu, outside Oslo, and we have offices in Stavanger, Trondheim, Harstad and Sandnessjøen.
Aker BP is listed on the Oslo Stock Exchange with the ticker AKRBP.
Key information (2024)
Values
Our values are seekers, accountable, foreseeable, enthusiastic and respectful.
We are curious and seek out new and better solutions. We put safety first and strive to create value for our owners and for society. We have high ethical standards. We value diversity and respect our colleagues and those we cooperate with.
Ethics and compliance
Our Code of Conduct is our main governing document that sets out requirements and expectations for ethical business conduct. The code of conduct applies for Aker BP’s employees and those acting for or on behalf of Aker BP.
Aker BP has zero tolerance for corruption and our anti-corruption policy provides a detailed guidance to employees and those acting on behalf of Aker BP to identify and prevent corruption in their day to day work.
We support and acknowledge fundamental human and labour rights principles as reflected in our Human Rights Policy.
In Aker BP we encourage employees to speak up about negative conditions which are in breach of Aker BP’s Code of Conduct, policies, procedures and any applicable rules. We also welcome concerns raised by external parties who work for or with Aker BP.
Governance policies
Strategy
Our vision is to be the exploration and production company of the future
Our strategic beliefs
Our vision is based on the belief that the world needs affordable, sustainable and reliable energy, and that oil and gas will remain a crucial part of the energy mix for decades to come. As a reliable energy producer, we are dedicated to supplying low-cost oil and gas produced with low greenhouse gas emission intensity.
The world needs affordable, sustainable and reliable energy
Oil and gas will remain a crucial part of the energy mix
New investments will be needed for decades to come
Low-cost barrels from Norway, produced with low greenhouse gas intensity, are well-positioned
Our strategic priorities
Our strategy defines how we will achieve our vision to be the exploration and production company of the future. We have identified six strategic priorities to realise this vision, and these are backed up by concrete action plans. Below follows a summary of the six priorities:
Alliances
Aker BP restructures the value chain. Working in alliances with strategic partners changes the way we work. The partnerships work as a separate organisation, and carry out the projects faster and better.
The purpose of the alliance model is to create value for the alliance partners through long-term collaboration.
Aker BP works with strategic partners in seven alliances. The objective is to plan and carry out the field developments and drilling operations in a safe and cost-effective manner, and set a new standard for deliveries on the Norwegian shelf.
Each alliance is assembled to solve specific tasks, and to make better use of the project potential of the project. As a result we spend fewer engineering hours and reduce both costs and construction hours in the projects.
Aker BP’s alliances
- The Subsea Alliance: Aker BP, Subsea 7 and OneSubsea
- The Fixed Facility Alliance: Aker BP, Siemens and Aker Solutions
- The Fixed Facility Alliance: Aker BP, ABB and Aker Solutions
- The Modification Alliance: Aker BP and Aker Solutions
- The Jack-Up Alliance: Aker BP, Noble and Halliburton
- The Semi Alliance: Aker BP, Odfjell Drilling and Halliburton
- The Intervention and Stimulation Alliance: Aker BP, SLB and Stimwell
Technology and digitalisation
Digitalisation is a key to improvement. The digital program Eureka is Aker BP’s hub for transformation and business optimisation, where cross-functional teams work to solve specific tasks. Through Eureka, Aker BP has taken a leading role in the digitalisation of the oil and gas industry.
The Cognite Data Fusion platform has been essential in Eureka’s success. Cognite was established in 2017 by Aker BP in collaboration with Aker ASA and IT innovator John Markus Lervik. The goal was to develop a new industrial data platform that could make all Aker BP data available to authorised users inside and outside the company, at any time, on all devices, and with extremely low latency.
The software organises data in ways that make sense to both algorithms and humans. Thus, Aker BP can develop applications, analyses and create models on the basis of data obtained from sensors, work orders, piping and instrumentation diagrams, subsea installations and wells.
Aker BP approaches digitalisation by focusing on the transformation of five core end-to-end processes . It will continue to co-develop products with large value creation potential following a few strategic requirements:
- No cyber-attacks having a significant impact on business or operations
- Aker BP work in an integrated and seamless manner in a fully digital and Cloud-native eco-system
- All strategic and operational data is made available to the user at the right quality and time
- Agile workforce capable of quickly adapting to and utilising digital solutions
Integrated operations
Development of new digital tools, improvement of processes and new ways of working. These are important elements in the work to achieve our goals of lower emissions, better safety, increased efficiency and lower costs.
Aker BP has established a competence centre for integrated operations that works across the organisation. The centre provides support in process improvement and digital development throughout the value chain – from field development to implementation of maintenance and operations offshore.
The goal is to create a shared operating model and digital operations support for all our fields, which will reduce costs and emissions, and increase production.
Data-driven decisions
Access to data, across departments and functions, enables us to make better decisions. The department for integrated operations is responsible for ensuring that decisions are supported with data-driven insights and analyses based on facts.
Aker BP collaborates with suppliers to develop new technology and better ways to execute tasks, based on shared data. We place great emphasis on developing methods where we can safely solve a great number of tasks from shore.
Hege Fjell Urdahl
VP Integrated Operations