Aker BP Q4 income $1,003Christian Fernsby ▼ | February 11, 2020
Aker BP reported total income of USD 1,003 (723) million for the fourth quarter 2019.
Aker BP Production cost per boe produced in the quarter amounted to USD 9.1 (13.2)
For the full year, production costs were USD 12.4 (12.1) per boe, in line with previous guidance.
Exploration expenses amounted to USD 85 (70) million in the quarter.
For the full year, exploration spend totalled USD 501 (359) million, below the latest guidance of USD 550 million.
Profit before taxes amounted to USD 424 (143) million.
Tax expense was USD 312 (186) million.
Overall, the company reported a net profit of USD 112 million for the quarter.
All major field development projects progressed according to plan, and first oil from both Johan Sverdrup and Valhall Flank West was achieved during the quarter.
Total capex for 2019 was USD 1,667 (1,202) million, in line with the latest guidance of USD 1.6 to 1.7 billion.
The Board has resolved to pay a quarterly dividend of USD 212.5 million, equivalent to USD 0.5901 per share, in February 2020. ■