Feb 05, 2021 / 09:00AM GMT
Erik Haugane - OKEA ASA - CEO
Welcome and thank you for logging on to OKEA's fourth-quarter presentation. The details of the presentation and the report itself, you will find on our website, www.okea.no under the tag Investors. The fourth quarter was an excellent quarter for the company. We delivered excellent results in production. We had a net profit of NOK182 million.
Let us just jump into the details, and Birte Norheim, our CFO, will present you the financial result. Birte, please continue.
Birte Norheim - OKEA ASA - CFO
Thank you, Erik. Production reliability was high both at Gjoa and Draugen during fourth quarter. And production increased by 22% on nearly 2,900 barrels a day compared to third quarter following completion of the turnaround at Draugen and the planned downtime at Gjoa.
Production was 5% lower compared to last year or about 850 barrels a day. The lower volumes at Draugen were partly due to gas previously being exported, currently being used as power supply and
Q4 2020 Okea ASA Earnings Call Transcript
Feb 05, 2021
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