Aker BP - Fourth quarter 2023 results
LYSAKER, Norway,
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
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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
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Strong financial performance: EBITDA of
USD 3,174 million , operating profit ofUSD 2,154 million , net profit ofUSD 164 million , and free cash flow ofUSD 461 million . -
Returning value: Dividend per share increased to
USD 2.4 for 2024, equivalent toUSD 0.60 per quarter
Comment from Karl Johnny Hersvik, CEO of Aker BP
"We ended the year on a strong note, successfully delivering on our targets despite experiencing some operational challenges in the second half.
I would like to take the opportunity to underscore the strong efforts of our team during the unplanned shutdown at Alvheim, which demonstrate the dedicated commitment and problem-solving capabilities that characterise this company.
Furthermore, I am pleased to confirm that our field development projects are on track. The cost estimates remain unchanged, and we are one year closer to first oil and generating another wave of value creation for
Ultimately, we maintain our position as a leader in the E&P industry through high efficiency, low operational costs and low emissions."
Guidance for 2024
- Production of 410-440 mboepd
- Capex of around
USD 5 billion - Exploration spend of around
USD 500 million - Abandonment spend of around
USD 250 million - Production cost of around
USD 7 per boe - Dividend of
USD 2.4 per share (USD 0.60 per quarter)
Webcast presentation
Today at
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Release |
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https://mb.cision.com/Public/1629/3924416/bdb358ffdc9a98e1.pdf |
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https://mb.cision.com/Public/1629/3924416/8a1f24f3f9aad7c7.pdf |
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