Aker BP has narrowed its full-year 2026 production guidance to 380–400 mboepd after net production averaged 383.6 mboepd in the second quarter.

The company raised the lower end of its previous guidance range.

Higher realised oil prices supported operating cash flow of $3.1 billion, the highest quarterly operating cash flow in Aker BP’s history. Net profit reached $521 million, while available liquidity stood at $6.0 billion at the end of the quarter.

The company’s major development projects remain on track for first production in 2027 after reaching several execution milestones.

At Yggdrasil, the power-from-shore system was commissioned in June, and the Hugin B topside was installed offshore in early July. The Hugin B sailaway also concluded the project period at Verdal.

Offshore hook-up of the Fenris topside has started at the Valhall PWP–Fenris development. The Valhall PWP topside is scheduled to sail away in August.

Aker BP said updated investment estimates for its major projects reflect higher activity levels and measures introduced to support execution during the final project phase.

The Skarv Satellites development remains on track for an accelerated start-up in August. Two subsea templates for Johan Sverdrup Phase 3 have also been installed ahead of planned production start-up in 2027.

During the quarter, Aker BP established a strategic collaboration with Equinor involving transactions in the Ringvei Vest, Yggdrasil and Wisting areas. The arrangement is intended to improve portfolio alignment and support long-term value creation on the Norwegian continental shelf.

The company said its core areas offer opportunities for near-field exploration, tie-backs, infill drilling and improved recovery.

Aker BP declared a quarterly dividend of $0.6615 per share.