Key highlights
- Production on track: Oil and gas production was 450 mboepd in the quarter. Full-year production guidance is narrowed to 455-465 from 445-470 mboepd.
- Cost efficiency: Production cost was
USD 6.0 per boe, demonstrating high efficiency and cost awareness. Full-year guidance is lowered toUSD 6.0-6.5 from 6.0-7.0 per boe. - Low emissions:
Aker BP continues to lead the oil and gas industry with greenhouse gas emissions of only 2.8 kg CO2e per boe. - Progress on field developments: All projects are progressing as planned, with fabrication activities underway at multiple locations
- Exploration success: The company participated in two oil and gas discoveries in the quarter.
- Strong financial performance: Operating profit of
USD 2,618 million , net profit ofUSD 588 million , and free cash flow ofUSD 1,157 million . - Returning value: Quarterly dividend of
USD 0.55 per share.
Comment from Karl Johnny Hersvik, CEO of Aker BP
"I am pleased to report another quarter of strong operational performance, demonstrating our commitment to high efficiency and cost discipline, and confirming our continued industry leadership in low emissions."
"Our field development projects are progressing well, with fabrication activities now underway at multiple sites. I am particularly pleased to announce that production from
"Our robust financial performance, marked by increased income and effective cost control, has resulted in substantial cash generation. This underscores our strategic focus on efficiency and disciplined capital allocation and supports our continued growth in dividends."
Webcast presentation
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Attachments
2023-Q3 Report.pdf
2023-Q3 Presentation.pdf
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