Aker BP Q4 2023 Results

Aker BP, a leading company in the oil and gas industry, recently released its operational performance for the fourth quarter of 2023. The company reported strong performance with low costs and high efficiency, despite experiencing an unplanned shutdown at Alvheim which impacted production volumes. The company continues to make progress on all field development projects and is maintaining its low emissions intensity at an industry-leading level.

Some of the key highlights of Aker BP’s performance in the fourth quarter of 2023 include:
– Oil and gas production reached 444 mboepd
– Production cost amounted to USD 6.2 per barrel produced
– Greenhouse gas emissions averaged 2.8 kg CO2e per boe
– All field development projects are progressing as planned and within budget
– EBITDA of USD 3,174 million, operating profit of USD 2,154 million, net profit of USD 164 million, and free cash flow of USD 461 million
– Dividend per share increased to USD 2.4 for 2024, equivalent to USD 0.60 per quarter

CEO of Aker BP, Karl Johnny Hersvik, praised the team’s strong efforts during the unplanned shutdown at Alvheim and confirmed that field development projects remain on track. Additionally, he provided guidance for 2024, highlighting key parameters based on the company’s business plan, including production targets, capex, exploration spend, abandonment spend, and dividend per share.

A webcast presentation of Aker BP’s results will be available on their website with an online Q&A session following the presentation. For more information, Aker BP has provided contact details for investor and media inquiries.

Aker BP’s strong operational performance, focus on low emissions, and commitment to delivering value to its stakeholders further solidifies its position as a leader in the oil and gas industry. For more information and to access the complete report and presentation, please visit Aker BP’s website.

SOURCE Aker BP ASA

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