Q4 2016 AKER BP ASA KARL JOHNNY HERSVIK, CEO ALEXANDER KRANE, CFO 6 FEBRUARY 2017
AKER BP ASA Highlights Production Q4-16 production of 126.5 mboepd, +14% from Q3-16 Finance Q4-16 EBITDA USD 485 million, EPS -0.20 (USD) Available liquidity of USD 2.5 billion Exploration Awarded 21 licenses (13 as operator) in…
Financials Q4 2016
FINANCIALS Statement of income Income statement (USD mill) Q4 2016 Q4 2015 FY 2016 Petroleum revenues 542 218 1,261 Other income 114 36 103 Total income 656 255 1,364 Production costs 121 24 227 Other operating expenses 5 3 22 EBITDAX…
FINANCIALS Statement of financial position Assets Equity and liabilities (USD mill) 31.12.16 31.12.15 (USD mill) 31.12.16 31.12.15 Goodwill Equity 2,449 339 1,847 768 Other intangible assets Other provisions for liabilities incl. P&A…
FINANCIALS Cash flow and liquidity Cash flow (USDm) Liquidity (USDbn) Fourth quarter 2016 Operating cash flow impacted by negative working capital Undrawn credit movements in the quarter Cash & cash equivalents 2,50 313 Dividend of…
GUIDANCE Guidance Guidance Aker BP ASA Guidance Aker BP ASA Item FY 2016 2016 actuals FY 2017 (Economic exposure)* CAPEX USD 910 - 930 million USD 878 million USD 900 950 million EXPEX USD 240 260 million USD 258 million USD…
Operations Q4 2016
PRODUCTION Oil and gas production Net production (boepd) Q4 2016 production of 126.5 mboepd Start-up of Viper-Kobra in November Start-up of Ivar Aasen in late December Realized oil price of 52 USD/bbl, gas price of 0.19 USD/scm…
GREATER ALVHEIM AREA Further developing the Alvheim area Key events New projects in the Alvheim area First oil from Viper-Kobra wells achieved in November The wells have been performing well since the start-up Transocean Arctic…
IVAR AASEN Ivar Aasen first oil delivered on plan and budget Key events First oil from Ivar Aasen on December 24, 2016 Successful start up with production according to agreed delivery commitment to Edvard Grieg SURF scope completed in…
JOHAN SVERDRUP Johan Sverdrup project progressing according to plan Key events Project progressing according to plan: Most major contracts have been awarded Hook-up and commissioning contracts for Phase 1 awarded Aibel and Aker…
VALHALL / HOD HUB Preparations to commence drilling Key events Delivered increased production in Q4-16 compared with previous quarter Mainly due to higher performance form cyclical wells Work ongoing to prepare for commencement of IP…
ULA / TAMBAR HUB Work to increase recovery Key events Production lower in Q4-16 compared with previous quarter due to delayed restoring of water alternating gas (WAG) injection capacity Maturing Tambar infill targets and execution of…
SKARV AREA Maturing Snadd towards PDO Key events Idun and Skarv A low pressure production project completed during Q4-16 Support slower decline in production profiles Snadd project progressing as planned Targeting concept selection…
EXPLORATION High exploration activity in 2016 2016 drilling campaign proved 83 mmboe (net) 2016 finding cost of 0.7 USD/boe after tax Drilling on the Langfjellet prospect completed in Q4-16 Main well encountered oil column of 109…
EXPLORATION Exploration activities 2017 Seven exploration wells planned for 2017 (Four operated) Tonjer well completed Seismic activity in 2017 Tendering for 4D seismic on existing operated assets Reprocessing of seismic for North…
EXPLORATION Offered 21 new licenses in 2016 APA awards Awarded 21 licenses in the 2016 APA award Operator for 13 licenses 1 license in the Barents Sea Strengthening position along the southern flank of the Loppa High 4 licenses in…
OUTLOOK Summary and outlook Operations Infill drilling in the Alvheim area Start-up of IP drilling campaign at Valhall Completion of drilling operations at Filicudi Concept selection for Snadd and Valhall Westflank Financing…
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