Aker BP 2021 output just below full-year guidance

Aker BP 2021 output just below full-year guidance
By Reuters
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OSLO – Norwegian independent oil firm Aker BP produced 209,400 barrels of oil equivalent per day (boepd) last year, just below its full-year guidance, the company said on Monday.

Its production in the last quarter of 2021 stood at 207,000 boepd, down from 223,100 boepd in the same period a year ago, the company said in a statement.

“Production was below average in the first half of the quarter due to project activities and various technical issues, but increased towards the end of the year,” it added.

Aker BP has previously guided for 2021 full-year production to end up towards the lower end of its previous guidance range of 210-220 boepd.

In December, Aker BP announced a deal to buy the oil and gas business of Sweden’s Lundin Energy, forming the second-largest listed petroleum firm on the Norwegian continental shelf.

The combined production for the two units was around 400,000 barrels of oil equivalent per day (boed) in 2021, expected to increase to 475,000 boed in 2023, the companies said at the time.

Aker BP also said on Monday it expected non-cash net impairment charges of about $80 million before tax in the fourth quarter.

It reports quarterly results on Feb. 10.

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