Welcome to Aker Exploration

Aker Exploration (AkX) was established early 2006 and is part of the Aker Group, a strong Norwegian industrial group with roots back in 1840.

Aker Exploration is an exploration company, focusing in northern part of the North Sea, Norwegian Sea and Barents Sea on the Norwegian Continental Shelf (NCS).

Aker Exploration believes that there is significant profit to be made by concentrating primarily on the exploration phase of the exploration and production cycle. With the large number of new entrants in Norway, there will be a very active second hand market for acreage with discovered reserves. Accordingly, it is the company’s intention to sell out of the licenses when drilling is complete or to return a license to the authorities when a decision not to drill is made by the license group.

The business model is based on trading rig capacity for exploration drilling with equity share in licenses on NCS. Aker Exploration also participates in regular license rounds and APA rounds as well as perform “farm-ins” to get license participation.

Aker Exploration was pre-qualified as an oil company on NCS in November 2006 and as operator in November 2007. Further, the company has secured a 3 year (+1) contract with a 6th generation rig, Aker Barents, commencing Q1 2009. Sufficient financial strength has been secured early December 2006.

The first farm-in agreement was signed late December 2006. Today Aker Exploration has interests in 16 licenses in which 2 as operator.
The company was listed on Oslo Axess in December 2007.