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Aker BP — Earnings Release 2018
Oct 5, 2018
3528_rns_2018-10-05_486c49c2-8544-4846-9492-3ec44f31954f.pdf
Earnings Release
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AKERBP: Third quarter 2018 production
Aker BP ASA produced 150.6 thousand barrels of oil equivalents per day (mboed) in the third quarter 2018.
Production in the third quarter was impacted by planned maintenance activities at Skarv and Alvheim, as well as temporarily higher gas injection and hence reduced exports from Skarv.
As part of the Valhall IP drilling campaign, the company has tested a new well stimulation method which is expected to significantly reduce the time and cost of new wells. The testing has taken more time than anticipated. As a result, some of the production growth that was expected from Valhall in the third quarter has been moved to coming quarters.
The production per field is specified below.
| Field | Interest | Operator | Q3-18 | Q2-18 | Q1-18 |
|---|---|---|---|---|---|
| Alvheim | 65% | Aker BP | 38.9 | 40.1 | 40.5 |
| Bøyla | 65% | Aker BP | 3.1 | 3.3 | 3.2 |
| Gina Krog | 3.3% | Equinor | 1.3 | 1.8 | 1.5 |
| Hod | 90% | Aker BP | 0.9 | 1.1 | 1.0 |
| Ivar Aasen | 34.78% | Aker BP | 22.7 | 23.7 | 24.4 |
| Skarv | 23.40% | Aker BP | 23.3 | 27.6 | 27.1 |
| Tambar | 55% | Aker BP | 4.0 | 5.4 | 1.6 |
| Ula | 80% | Aker BP | 6.5 | 5.4 | 6.5 |
| Valhall | 90% | Aker BP | 35.1 | 32.7 | 33.5 |
| Vilje | 46.90% | Aker BP | 3.7 | 4.1 | 5.1 |
| Volund | 65% | Aker BP | 11.0 | 12.6 | 14.1 |
| Other | Misc. | Misc. | 0.1 | 0.1 | 0.1 |
| Total | 150.6 | 157.8 | 158.6 |
Production volumes are subject to final re-allocation. Numbers may not add due to rounding.
Contact:
Kjetil Bakken, VP Investor Relations, tel.: +47 91 889 889
About Aker BP:
Aker BP is a fully-fledged E&P company with exploration, development and production activities on the Norwegian Continental Shelf. Aker BP is the operator of Alvheim, Ivar Aasen, Skarv, Valhall, Hod, Ula and Tambar. The company is also a partner in the Johan Sverdrup field. Aker BP is headquartered at Fornebu, Norway, and is listed on the Oslo Stock Exchange under the ticker 'AKERBP'. More about Aker BP at www.akerbp.com.