Lysaker – October 29, 2026 -- Aker BP reported third-quarter EBITDA of USD 3.4 billion and cash flow from operations of USD 2.4 billion, as higher sold volumes and strong realised prices lifted earnings.
Net profit reaches USD 986 million, aided by a USD 262 million impairment reversal
Net profit came in at USD 986 million, or USD 1.56 per share. The figure includes a positive after-tax effect of USD 262 million from an impairment reversal.
Net sold volumes were 396 mboepd, up five percent from the previous quarter. Net production was lower at 374 mboepd, which the company attributed to planned maintenance. Aker BP reiterated its full-year production guidance of 380-400 mboepd.
Aker BP holds leverage at 0.50 with USD 5.8 billion in available liquidity
The company described its financial position as robust. The board set a quarterly dividend of USD 0.6615 per share, payable on or about 12 November 2026.
Skarv Satellites begin production almost a year ahead of schedule
The Skarv Satellites Project came on stream in late August, almost a year ahead of the original schedule. CEO Karl Johnny Hersvik said the start-up shows the value of developing new resources through existing infrastructure.
Yggdrasil and Valhall PWP-Fenris stay on track for first production next summer
The Hugin B, Munin and Valhall PWP topsides have been installed. All major subsea components at Yggdrasil are now in place, and offshore hook-up and commissioning are underway.
Hersvik called the quarter "one of the most important" in the company's project history and said both developments have entered the final phase before start-up.
Aker BP targets new Norwegian Continental Shelf resources through exploration and partnerships
Beyond its current project portfolio, the company is expanding its opportunity set through exploration and new partnerships. It is also applying technology, AI and a more integrated operating model to unlock additional resources. Hersvik said the strategy is unchanged, but execution is being refined to raise shareholder value.