Aker BP reports first quarter 2025 results

07 May 2025 06:00 CEST

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 (https://akerbp.com/en/investor/first-quarter-2025/), hosted by
CEO Karl Johnny Hersvik and CFO David Tønne. The presentation will be followed
by an online Q&A session.

Attachments

Aker BP 2025-Q1
Report.pdf (https://mb.cision.com/Public/1629/4145854/8d72f7cb4880b032.pdf)
Aker BP 2025-Q1
Presentation.pdf (https://mb.cision.com/Public/1629/4145854/b962b4ba7c0d41c0.pdf
)


Investor contacts:
Kjetil Bakken, Head of IR, tel.: +47 918 89 889
Carl Christian Bachke, IR Officer, tel.: +47 909 80 848
Martin Seland Simensen, IR Officer, tel.: +47 416 92 087

Media contacts:
Tore Langballe, VP Communications, tel.: +47 907 77 841
Ole-Johan Faret, Press Spokesman, tel.: +47 402 24 217

About Aker BP:
Aker BP is a leading exploration and production company focused on oil and gas
operations on the Norwegian continental shelf. The company operates the Alvheim,
Edvard Grieg, Ivar Aasen, Skarv, Ula, and Valhall field centres and is a key
partner in the Johan Sverdrup field. Headquartered in Fornebu, Norway, Aker BP
is listed on the Oslo Børs under the ticker AKRBP. For more information, visit
www.akerbp.com (https://www.akerbp.com/en).

This information is considered to be inside information pursuant to the
EU Market Abuse Regulation and is subject to the disclosure requirements
pursuant to Section 5-12 the Norwegian Securities Trading Act.

This stock exchange release was published by Kjetil Bakken, Head of Investor
Relations, Aker BP ASA, on 7 May 2025 at 06:00 CEST.

More information:
Access the news on Oslo Bors NewsWeb site

645455_Aker_BP_2025_Q1_Report.pdf
645455_Aker_BP_2025_Q1_Presentation.pdf