LYSAKER, Norway, April 24, 2024 /PRNewswire/ -- Aker BP delivered continued strong operational performance in the first quarter of 2024, with low cost and low emissions, and with all field development projects progressing according to plan.
Highlights
Increased production: Oil and gas production reached 448 mboepd in the first quarter, one percent higher than in the fourth quarter
Low cost: Production cost amounted to USD 6.1 per barrel produced, down from USD 6.2 in the fourth quarter
Low emissions: Greenhouse gas emissions (scope 1&2) averaged 3.0 kg CO2e per boe, ranking among the lowest in the global oil & gas industry
Development projects on track: All field development projects are progressing as planned and within budget
Strong financial performance: EBITDA of USD 2.8 (3.2) billion, operating profit of USD 2.2 (2.2) billion, net profit of USD 531 (164) million, and free cash flow of USD 339 (461) million
Returning value: Quarterly dividend of USD 0.60 per share
Comment from Karl Johnny Hersvik, CEO of Aker BP
"Aker BP delivered strong operational and financial performance in the first quarter of 2024. Our oil and gas production increased while we maintained low costs and kept emissions in check.
Our field development projects are on track, and construction activity is ramping up at multiple sites in Norway and abroad. The Hanz project has been completed, and production started a few days ago. Meanwhile, the Tyrving development is progressing towards an accelerated start-up in the fourth quarter.
We are pleased to report another quarter marked by robust cash flow and a strong financial position, which further underpins the ongoing investments in our profitable projects and attractive dividends to our shareholders."
Webcast presentation
Today at 08:30 CET, the management will present the results on a webcast available on www.akerbp.com/en. The presentation will be followed by an online Q&A session.
Investor contacts: Kjetil Bakken, Head of IR, tel.: +47 918 89 889 Carl Christian Bachke, IR Officer, tel.: +47 909 80 848 Martin Seland Simensen, IR Officer, tel.: +47 416 92 087
TerraPay, a leading global money movement company, is excited to announce the appointment of Hassan Chatila as Vice President - Global Head of Network.
This key addition to TerraPay's global network leadership also marks a critical step in the...
Elliptic Labs (OSE: ELABS), a global AI software company and the world leader in AI Virtual Smart Sensorstm currently deployed in over 500 million devices, is shipping its AI Virtual Proximity Sensortm INNER BEAUTY® on vivo's latest smartphone, the...
500 Global, one of the world's most active venture capital firms1, in partnership with Georgia's Innovation and Technology Agency (GITA) and Bank of Georgia, announced 500 Global in Eurasia based in Georgia, a strategy to find, select and accelerate...
Today marks a strategic advancement in mission-critical communications as Ecrio, a leader in private mobile network innovation, announced its partnership with SEMPRE.ai, the company created to secure America's critical infrastructure. This...
Stonal, the leading data management platform for real estate owners and investors in Europe, has announced a strategic investment by Aareon, Europe's trusted provider of SaaS solutions for the property industry, to accelerate its European expansion....
Sohu.com Limited , a leading Chinese online media, video and game business group, will report its first quarter 2024 unaudited financial results on Monday, May 20, 2024, before U.S. market hours....