Aker BP Net Petroleum Output Drops YOY; Sales Down
European hydrocarbon exploration and production company Aker BP Wednesday reported a year over year decline in its Q2 net petroleum production to 383.6 million barrels of oil equivalent per day from 415.0 mmboe/d. Accordingly, net sold volume during the quarter dropped to 375.7 mmboe/d from 413.8 mmboe/d in the year-ago period. Due to planned maintenance, Q2 production efficiency fell to 94% from the previous quarter's 97% and last year's 95%, the report said. In its latest production outlook, Aker BP raised the lower end of the guidance to 380 mmboe/d from 370 mmboe/d, while maintaining the higher end at 400 mmboe/d. In 2027, the company said it expects its major projects to come online, including the Yggdrasil, Valhall PWP-Fenris, and Johan Sverdrup Phase 3 oil and gas development. With these field developments, Aker BP's output is projected to grow by around 35% from 2026 through 2028, with production likely to exceed 500 mmboe/d going into the 2030s.
European hydrocarbon exploration and production company Aker BP Wednesday reported a year over year decline in its Q2 net petroleum production to 383.6 million barrels of oil equivalent per day from 415.0 mmboe/d.
Accordingly, net sold volume during the quarter dropped to 375.7 mmboe/d from 413.8 mmboe/d in the year-ago period.
Due to planned maintenance, Q2 production efficiency fell to 94% from the previous quarter's 97% and last year's 95%, the report said.
In its latest production outlook, Aker BP raised the lower end of the guidance to 380 mmboe/d from 370 mmboe/d, while maintaining the higher end at 400 mmboe/d.
In 2027, the company said it expects its major projects to come online, including the Yggdrasil, Valhall PWP-Fenris, and Johan Sverdrup Phase 3 oil and gas development.
With these field developments, Aker BP's output is projected to grow by around 35% from 2026 through 2028, with production likely to exceed 500 mmboe/d going into the 2030s.