ANNUAL REPORT 2019 CONTENTS
Highlights 2019 4
Letter from the CEO 8
Key Figures 2019 11
A Focused Portfolio 13
Board of Directors 41
Executive Management Team 45
Board of Directors’ Report 50
Reporting of Payments to Governments 71
The Board of Directors’ Report on Corporate Governance 73
Financial statements 83
3 · Aker BP Annual Report 2019 – HIGHLIGHTS 2019 I Q1 HIGHLIGHTS 2019 I Q2
14 JUNE – VALHALL QP TOPSIDE SAFELY REMOVED 19 MARCH - FIRST The original accommoda- OIL FROM ODA tion platform at Valhall (QP) First oil from the Spirit is safely removed by the 16 JANUARY – IVAR AASEN 7 APRIL – ULA DERRICK Ener -operated Oda giant vessel Pioneering OPERATED FROM ON- REMOVED field, some three Spirit. This is the rst of the SHORE CONTROL ROOM The derrick is removed from months ahead of plan. original structures at Valhall Aker BP becomes the first the Ula eld center using the to be removed as part of the o pan on t e Nor e an heavy lifting vessel Saipem modernization of the Valhall continental shelf to operate a 7000. The successful lifting eld center. manned platform from an operation is an important onshore control room. Ivar milestone in the upgrading Aa en n t e Nort Sea and life extension of the Ula now operated from Aker BP’s area. Future drilling on the offices in Trondheim. eld will be carried out with modern jack-up rigs. A ERBP NO BRENT BLEN US A ERBP NO BRENT BLEN US
300 100 300 100 12 JUNE – BOND ISSUE OF USD 750 MILLION AT 4.75 % The size of the o ering was increased from USD 500 million, indicated at launch on 10 June 2019, to USD 750 million. 90 90
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