Newly-formed Aker BP said today that its integration process was on track after revealing third quarter revenues of $248million.
The company was created last month following a merger between BP’s Norwegian unit and Det norske oljeselskap, which was controlled by investment firm Aker.
BP owns 30% of the new firm and Aker holds 40%.
Aker BP – which has an 11.6% stake in the Johan Sverdrup oil field, the North Sea’s largest discovery in decades – brought in revenues of $248million during the three months.
Net interest-bearing debt amounted to $2.4billion on September 30.
Production in the period was 59,800 barrels of oil equivalent per day, at an average oil price of $47 a barrel.
Aker BP chief executive Karl Johnny Hersvik said: “We delivered a solid performance in the third quarter with stable, safe and efficient operations, in addition to establishing a platform for building a strong and cost effective fit-for-purpose Aker BP.
“The integration process continues to be on track and the board of directors proposes to pay a quarterly dividend from December 2016.”
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