Aker BP Eyes Further M&A Opportunities on Norway’s Continental Shelf

OSLO, Feb 14 (Reuters) – Aker BP (AKRBP.OL), Norway’s second-largest oil producer, sees fresh opportunities for mergers and acquisitions as it aims to consolidate further on the Norwegian continental shelf. The company’s top shareholder, Aker ASA (AKER.OL), which owns 21.16% of Aker BP, indicated that the firm is open to acquiring high-quality assets—excluding aging or declining fields.

CEO of Aker ASA, Øyvind Eriksen, told Reuters:

"There are a few opportunities that could be of interest. If and when they are for sale we would consider a possible transaction."

Aker BP, which has grown significantly since 2013 through a series of deals, produced over 400,000 boepd in 2024 and is targeting over 500,000 boepd by 2028 through development of existing resources. CEO Karl Johnny Hersvik emphasized a focus on acquisitions that enable greater efficiency, speed, or cost savings, hinting that market conditions are increasingly favorable.

BP (BP.L) holds a 15.87% stake in Aker BP, making it the company’s second-largest shareholder after Aker ASA. Aker remains the main investment vehicle of Norwegian billionaire Kjell Inge Røkke.

Source: Reuters