Aker BP – Fourth quarter 2023 results

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LYSAKER, Norway, Feb. 8, 2024 /PRNewswire/ — Aker BP delivered strong operational performance in the fourth quarter of 2023, with low cost and high efficiency, although production volumes were impacted by an unplanned shutdown at Alvheim. All field development projects continued progressing as planned, and the company maintained its low emissions intensity at an industry-leading level.

Highlights          

Strong production: Oil and gas production reached 444 mboepd in the fourth quarter and 457 mboepd for the full year 2023, in line with guidance           
Cost efficiency: Production cost amounted to USD 6.2 per barrel produced, both for the fourth quarter and the full year           
Low emissions: Greenhouse gas emissions averaged 2.8 kg CO2e per boe, both for the quarter and the full year, ranking among the lowest in the global oil & gas industry           
Progress on field developments: All projects are progressing as planned and within budget, with fabrication activities underway at multiple locations           
Strong financial performance: EBITDA of USD 3,174 million, operating profit of USD 2,154 million, net profit of USD 164 …

Full story available on Benzinga.com


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