LYSAKER, Norway, Feb. 12, 2025/ PRNewswire/– Aker BP provided strong lead to the 4th quarter and throughout 2024, driven by high production performance, low expenses, and low emissions. With production at the upper end of assistance, a well-executed job portfolio, and robust capital generation, the business continues to produce worth and disperse appealing dividends to its investors.
Talking About Aker BP’s tactical instructions, Aker BP CEO Karl Johnny Hersvik stated:
” Over the previous years, Aker BP has actually gone through an improvement to develop a future-fit E&P business. We have actually established unique abilities that set us apart: a strong efficiency culture that drives execution quality, a reputable alliance design that promotes partnership throughout the worth chain, and a leading position in digitalisation that is changing the method we work. Integrated with our first-rate possession base, these strengths allow us to provide industry-leading efficiency.”
Reviewing the business’s current efficiency, Hersvik continued:
” In the 4th quarter and throughout 2024, we provided strong functional efficiency throughout all crucial metrics. Production reached the upper end of our assistance, with strong efficiency throughout the portfolio – led by Johan Sverdrup, which provided a brand-new yearly production record. At the very same time, we kept industry-leading expense performance and emission strength. I am likewise pleased that we stay on track to provide our job portfolio and grow production into the next years.”
Looking ahead, Hersvik included:
” We have a clear path to sustain production above 500,000 barrels each day beyond 2030, with aspirations for additional development. With our abilities, properties, resource base, and innovation, we are preferably placed to drive rewarding development on the Norwegian continental rack.”
Talking About Aker BP’s monetary position, he stated:
” With another year of strong worth production and capital behind us, we get in 2025 in our greatest monetary position yet – supplying the versatility to advance our advancement jobs while preserving appealing dividends to our investors. In line with our aspiration, we when again increase our dividends in 2025.”
Emphasizes for the 4th quarter 2024
- Exceptional functional efficiency: Oil and gas production reached 449 (415) thousand barrels of oil comparable each day (mboepd) throughout the quarter and 439 (457) for the complete year 2024, near to the high-end of the directed variety of 430-440 mboepd.
- Low expense: Production expense was USD 5.7 (6.6) per barrel. Ending the year at USD 6.2 (6.2) per barrel, listed below most current assistance of 6.5 dollars per barrel.
- Low emissions: Greenhouse gas emission strength was 2.6 (2.4) kg CO 2 e per boe (scope 1 & & 2), ranking amongst the most affordable in the international oil and gas sector.
- Projects on track: Field advancement jobs advancing according to strategy, with total capex approximates the same.
- Strong monetary outcomes: Aker BP reported overall earnings of USD 3.1 (2.9) billion, an EBITDA of USD 2.7 (2.6) billion and net earnings of USD 562 (173) million for the quarter. On a full-year basis the business created record-high capital from operations at USD 6.4 (5.4) billion.
- Returning worth: Dividends of USD 2.4 per share paid in 2024, to be increased by 5 percent to USD 2.52 per share in 2025.
Assistance for 2025
Aker BP today revealed its assistance for 2025, laying out management’s expectations for production, capital costs, production expense, and dividends. Production is anticipated to variety in between 390-420 mboepd, in line with formerly interacted long-lasting strategies.
Capital investment are predicted at USD 5.5 -6.0 billion before tax. Production expense is anticipated to stay around USD 7 per barrel oil equivalent. Expedition expenditures are approximated at around USD 450 million, while desertion invest is predicted at around USD 150 million
In line with the business’s dedication to investor returns, the Board has actually authorized a 5 percent boost in dividends to USD 0.63 per share per quarter, annualising to USD 2.52 per share for 2025.
Webcast discussion
The discussion will be webcasted today at 08:30 CET on www.akerbp.com, hosted by CEO Karl Johnny Hersvik and CFO David Tønne The discussion will be followed by an online Q&A session.
Accessories
Aker BP 2024-Q4 Report.pdf
Aker BP 2024-Q4 Presentation.pdf
Financier contacts:
Kjetil Bakken, Head of Financier Relations, tel.: +47 918 89 889
Carl Christian Bachke, Financier Relations Officer, tel.: +47 909 80 848
Martin Seland Simensen, Financier Relations Officer, tel.: +47 416 92 087
Media contacts:
Tore Langballe, VP Communications, tel.: +47 907 77 841
Ole-Johan Faret, Press Representative, tel.: +47 402 24 217
This info was given you by Cision http://news.cision.com
https://news.cision.com/aker-bp-asa/r/fourth-quarter-2024-results-and-strategy-update,c4104062
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SOURCE Aker BP ASA
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