Aker BP reports third quarter 2024

LYSAKER, Norway, Oct. 30, 2024 /PRNewswire/ -- Aker BP delivered strong results in third quarter 2024, driven by high production efficiency, low costs, and low emissions. With production guidance raised, early project completions, and robust cash flow generation, we continue to create value and return it to shareholders through dividends. 

Highlights

Efficient operations: Oil and gas production averaged 415 (444) thousand barrels of oil equivalent per day (mboepd) during the quarter. Full-year guidance raised to 430-440 (previously 420-440) mboepd.

Low cost: Production cost was USD 6.6 (6.4) per barrel. Full-year guidance lowered to USD ~6.5 (previously ~7) per barrel. 

Low emissions: Greenhouse gas emission intensity averaged 2.4 (2.6) kg CO2e per boe (scope 1 & 2), ranking among the lowest in the global oil and gas sector.

Projects on track: All field development projects progressing on schedule and within budget. 

Tyrving on stream: The Tyrving field in the Alvheim area commenced production five months ahead of original plan.

Strong financial performance: Aker BP reported EBITDA of USD 2.6 (3.0) billion, net profit of USD 173 (561) million, and record-high cash flow from operations of USD ...