Okea ASA (OSL:OKEA)

kr 24.94 -0.32 (-1.27%) Market Cap: 2.59 Bil Enterprise Value: 2.60 Bil PE Ratio: 0 PB Ratio: 3.83 GF Score: 73/100

Q1 2023 Okea ASA Earnings Call Transcript

May 04, 2023 / 08:00AM GMT

Release Date Price: kr31.14 (+2.43%)

Transcript

Svein Liknes

OKEA ASA - CEO

Good morning, and welcome to the presentation of the first quarter results for OKEA in 2023. My name is Svein Liknes, I'm the CEO of OKEA. And together with me today, I also have Birte, that will take you through the financial section a bit later on. We will have a question-and-answer session after this presentation. And there will be a link on our home page that you can go into and also submit questions as we present. But also, there will be lines open so you can call questions afterwards, but that will come after our presentation.

I cannot talk about the first quarter of 2023 without going into the transaction we did earlier this year, when we acquired or at least signed a contract with Equinor to take over 28% of the Statfjord asset. Statfjord is one of the greatest assets which has been on the Norwegian continental shelf and still has many years of production left.

This will actually take the company OKEA from a daily production now of, which we have guided this year, between 22,000 to 25,000 boepd, to just short of 40,000 boepd by the end of this year,

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