Det Norske Oljeselskap ASA

What Det Norske Oljeselskap ASA does

Aker BP ASA is an independent Norwegian exploration and production company operating on the Norwegian Continental Shelf (NCS). The company, formed in 2014 from the merger of Det norske oljeselskap ASA with Aker Oil & Gas, runs upstream activities spanning exploration, field development and production. Operated assets include the Valhall, Ula, Edvard Grieg/Ivar Aasen, Alvheim and Skarv field centres, plus a ~31.7% partnership interest in the Johan Sverdrup field (operated by Equinor). Aker BP holds 190 NCS licences and targets 2025 production of approximately 420 thousand barrels of oil equivalent per day, making it one of the largest independent E&P companies in Europe by production volume.

The company's technology stack is built around subsea systems, platform operations and digitalised remote execution. Notable proprietary capabilities include a Remote Operations Center in Haugesund that enables subsea work to be conducted from shore (reducing a 14-day offshore job to 12 hours), Taurob robotic inspection systems deployed on the unmanned Fenris platform, and a strategic partnership with Viridien for multi-client ocean bottom node (OBN) seismic imaging. Project execution is delivered through an alliance-based model with seven strategic alliances covering subsea, fixed facilities, drilling and well services, including partnerships with Aker Solutions, ABB, Siemens Energy, Subsea7, OneSubsea, Noble, Halliburton, Odfjell Drilling and SLB. The major project portfolio includes Yggdrasil (Hugin A and B plus Munin platforms) and Valhall PWP-Fenris, both recently delivered from Aker Solutions' Verdal yard.

Aker BP generates revenue by selling crude oil and natural gas at global market prices, with oil exported through the Mongstad terminal and gas via the Kollsnes pipeline. 2025 revenue is reported at approximately USD 10.9 billion. Major shareholders are Aker ASA (21.2%), BP Exploration Operating Company Ltd (15.9%) and Nemesia (14.4%), with the remainder widely held. The company is listed on Oslo Børs under ticker AKRBP and on OTCQX as AKRBF, employs approximately 3,000 people, and targets production cost under USD 7 per barrel and Scope 1+2 emissions intensity under 4 kg CO2e per barrel.

Name

Det Norske Oljeselskap ASA

Legal name

Aker BP ASA

Website

https://akerbp.com

Company type

Public

Founded year

2014

Operating status

Operating

Headcount range

51–100 employees

Short description

Aker BP ASA is an independent Norwegian exploration and production company operating oil and gas fields across the Norwegian Continental Shelf, with major operated assets at Valhall, Ula, Edvard Grieg/Ivar Aasen, Alvheim, and Skarv, plus partnership interests in Johan Sverdrup and Ringvei Vest.

Ownership category

akta.pro rank

Product category

Upstream Oil and Gas Exploration & Production

NAICS

Crude Petroleum Extraction (21112), Natural Gas Extraction (21113)

SIC

Crude Petroleum & Natural Gas (1311)

akta.pro primary industry

Production Operations & Well Optimization (Artificial Lift, Flow Assurance) (EUALAAAF)

akta.pro secondary industry

Field Development & EOR/IOR for Gas (Compression, Refracturing, Reservoir Management) (EUAAAAAM)

Keywords

• Upstream oil and gas
• Exploration and production
• Offshore field development
• Norwegian Continental Shelf
• Subsea operations

Headquarters

HQ city

Trondheim

HQ country

Norway

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Supply Chain, Personnel, Technology or R&D

Revenue model

1. Oil and Gas Production: Aker BP generates revenue through the exploration, development, and production of crude oil and natural gas on the Norwegian Continental Shelf. The company sells oil and gas at market prices, with revenue derived from production volumes multiplied by realized prices. Key assets include Valhall, Ula, Edvard Grieg/Ivar Aasen, Alvheim, Skarv fields, and partnership in Johan Sverdrup.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Aker BP explores, develops, and produces crude oil and natural gas on the Norwegian Continental Shelf through operated field centers including Valhall, Ula, Edvard Grieg/Ivar Aasen, Alvheim, and Skarv, plus a partnership interest in Johan Sverdrup. The company sells oil and gas at global market prices and is increasingly deploying remote operations, robotic inspection, and advanced seismic imaging technologies to improve production efficiency and reduce emissions.

Product overview

Aker BP is an independent oil and gas exploration and production company operating on the Norwegian continental shelf. The company manages a portfolio of operated assets including field centers (Valhall, Ula, Edvard Grieg/Ivar Aasen, Alvheim, Skarv) and holds partnership interests in Johan Sverdrup. The product portfolio spans core upstream activities (exploration, production, field development) supported by strategic technology initiatives including remote/autonomous operations using robotics and ROVs, digitalization for data-driven decision making, and strategic partnerships for seismic imaging and subsurface analysis. Development projects like Yggdrasil, Valhall PWP-Fenris, and Ringvei Vest represent major capital projects delivered through alliance models with strategic partners.

Differentiator

Problem solved

Functional benefit

Products and services

• Crude Oil and Natural Gas Production Production of crude oil and natural gas from operated field centers on the Norwegian Continental Shelf including Valhall, Ula, Edvard Grieg/Ivar Aasen, Alvheim, and Skarv, sold to global commodity markets at market prices.
• Oil and Gas Exploration Exploration services for oil and gas deposits on the Norwegian Continental Shelf, including seismic surveys and reservoir analysis across the company's 190 license portfolio.
• Field Development Services Development of new oil and gas fields through concept development, project execution, and integration with existing infrastructure, delivered through the seven strategic alliances model.
• Remote Subsea Operations from Shore Remote control of subsea operations from the Remote Operations Center (ROC) in Haugesund, enabling advanced ROV operations to be managed onshore and reducing 14-day offshore jobs to 12 hours.
• Robotic Inspection at Fenris Pilot program for robotic inspections using the Taurob robot on the unmanned Fenris platform, enabling observations, inspections, and data collection without physical presence on the platform.
• Integrated OBN Seismic Workflow Multi-client ocean bottom node (OBN) seismic acquisition and imaging service delivered through the strategic partnership with Viridien, providing improved subsurface insights for exploration and field development.

Quantifiable outcome

• Remote subsea operations reduced from 14 days offshore to 12 hours from shore
• +4 more outcomes

Named customers2 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

AI capability8 records

Feature3 records

Partnerships

Nine partnerships are on record, tiered core.

• DeepOceancoreStrategic or Co-development Partner · 15 June 2026Strategic partnership for remote subsea operations. DeepOcean and Aker BP successfully conducted an advanced subsea operation from shore, reducing a 14-day offshore job to 12 hours controlled from a Remote Operations Center in Haugesund. The partnership enables ROV operations to be managed onshore, reducing offshore mobilization requirements.
• ViridiencoreStrategic or Co-development Partner · 10 June 2026Long-term strategic partnership for multi-client ocean bottom node (OBN) seismic acquisition, seismic imaging, and technology development. The partnership aims to build an integrated end-to-end seismic workflow from acquisition to subsurface image, improving decision quality and productivity in exploration and field development.
• Subsea 7 and OneSubseacoreStrategic or Co-development PartnerSubsea alliance responsible for subsea development projects. Part of Aker BP's seven strategic alliances restructuring the value chain for planning and executing field developments.
• ABB and Aker Solutions (Fixed Facilities Alliance)coreStrategic or Co-development PartnerPlatform alliance (fixed facility) delivering Valhall PWP and Fenris platforms. The alliance delivered over 42,000 tonnes from Verdal yard, including jackets and topsides. Key to executing complex offshore construction projects.
• Siemens Energy and Aker Solutions (Platform Alliance)coreStrategic or Co-development PartnerPlatform alliance (fixed facility) delivering Hugin A and B platforms in the Yggdrasil development. Partnership enables efficient execution of major offshore platform projects.
• Noble and Halliburton (Jack-up Rig Alliance)coreStrategic or Co-development PartnerAlliance for jack-up drilling operations on the Norwegian Continental Shelf. Part of the seven alliances restructuring Aker BP's value chain for drilling and well operations.
• Odfjell Drilling and Halliburton (Semi-submersible Alliance)coreStrategic or Co-development PartnerAlliance for semi-submersible rig operations. Part of strategic alliance model for efficient drilling execution.
• SLB and Stimwell Services (Well Intervention Alliance)coreStrategic or Co-development PartnerWell intervention and stimulation alliance for drilling and well services. Contributes to the alliance model covering drilling and well operations.
• Aker SolutionscoreStrategic or Co-development PartnerKey alliance partner for major offshore projects. Aker Solutions delivered Valhall PWP-Fenris and Yggdrasil projects from Verdal yard, creating over 3,500 man-years and involving more than 130 apprentices. Partnership exemplifies alliance model for project execution.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Eni S.p.A. Integrated energy major and major shareholder of Vår Energi, with overlapping NCS exposure through its partner stake. Comparable upstream interest on the NCS, with broader integrated portfolio elsewhere.
• ConocoPhillips: Global independent E&P with significant NCS exposure via operated assets including Ekofisk. Comparable upstream production model, though portfolio spans multiple geographies beyond the NCS.
• TotalEnergies SE: Integrated supermajor with NCS exploration and production interests. Comparable in upstream technical capability and NCS presence, but operates globally across the full energy value chain.
• Shell plc: Integrated supermajor with historical NCS presence (e.g., as predecessor operators of fields Aker BP now operates or partners in). Overlapping upstream capability on the NCS, though portfolio is global and diversified.

Direct peers

• DNO ASA: NCS-focused independent E&P with operated production on the Norwegian and UK shelves. Comparable in business model (operated upstream on the NCS), though smaller in scale than Aker BP.
• Vår Energi ASA: NCS-focused E&P company with a portfolio of operated and partner assets in the North Sea and Norwegian Sea. Comparable scale and asset mix to Aker BP, with Eni and HitecVision as major shareholders.
• Equinor ASA: Largest operator on the Norwegian Continental Shelf and the operator of Johan Sverdrup and Ringvei Vest. Most directly comparable to Aker BP in terms of NCS asset base, upstream production model, and listed-E&P status.
• International Petroleum Corporation: Lundin-family-controlled upstream E&P with NCS assets (operated by Aker BP/Equinor via partner interests). Comparable independent E&P model focused on European upstream.

Emerging players

• BlueNord ASA: Independent NCS E&P operator (formerly Noreco) with producing assets including the Dan, Gorm, and Halfdan hubs. Operates the same asset class as Aker BP though at significantly smaller scale.
• OKEA ASA: Smaller NCS-focused E&P operator with producing assets on the Norwegian Continental Shelf. Comparable asset type but at a smaller scale, focused on redeveloping and operating mature fields.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/det-norske
• Xx.com/akerbpasa

Revenue estimate

Valuation estimate

Number of profiles

Profiles30 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Det Norske Oljeselskap ASA