OSLO, Oct 31 (Reuters) -
** Aker BP, partner at Norway's giant JohanSverdrup oil field, expects further capex cuts at the field
** CEO Karl Johnny Hersvik says "I will leave it to theoperator but the markets are continuing to be bearish. There isa lot of work to be done, also regarding procurement, that's whywe expect trajectory on the costs to continue down."
** Latest capex estimate from operator Statoil from end ofAugust is NOK 99 billion Norwegian crown for phase one (nominalin project FX), down from NOK 123 billion in PDO (plan fordevelopment and operations)
** CAPEX (Full-field) is NOK 140 to 170 billion (real inproject FX), down from NOK 170-220 billion
** Capex for phase 1 gives a break-even below 25 USD/barrel,production capacity 440,000 barrel of oil per dag while phasetwo will increase capacity to 660,000 barrels per day
** Swedish Lundin and Danish AP Moeller Maersk are also partners in Johan Sverdrup
** Hersvik made the statements during Aker BP's Q3 earningscall on Monday
** Core earnings and net profit beat expectations and thenewly formed company also announced a dividend as promised whenthe merger between Det norske and BP's Norwegian assets wasannounced in June this year
** CEO says will pay an annual dividend of at least $250mln, or $0.185 per share per quarter, until Johan Sverdrup comeson stream late in 2019, then dividend will increase further
** CEO says dividend guidance is a floor going forward andbased on current assessment of the future, including debt,cashflow, oil price, forex
** CEO says still has room to make acquisitions and payingdividend
** CEO says the company continues to pursue options both togrow company and to increase dividend capacity
** Aker BP shares are up 3.2 percent at 134.1 crownscompared to a drop of 0.1 percent in Oslo benchmark share index
** Analysts say report is strong and dividend on the upsideof expectations (Reporting By Ole Petter Skonnord, editing by Terje Solsvik)