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

Q2 2023 Okea ASA Earnings Call Transcript

Jul 13, 2023 / 08:00AM GMT

Release Date Price: kr33.5 (+3.46%)

Transcript

Svein Liknes

OKEA ASA - CEO

Good morning, and welcome to the presentation of the second-quarter results for OKEA in 2023. My name is Svein Liknes, I'm the CEO of OKEA. And as always, I have the CFO Birte Norheim with me today that will take you through the financial section a bit later before we go to summary and question and answers.

We do have a link on our homepage that you can use for the Q&A session thereafter. And we hope that you will join us for that session.

The second quarter in 2023 has been a very stable quarter for OKEA. Our production has been just in excess of 22,000 barrels per day or 22,300. It's been predictable as we already had planned for and we have done some activities on our assets, which has been quite significant.

But production has been very stable, strong production both from Brage, Ivar Aasen, and GjÃ¸a. Draugen has had the biggest turnaround or maintenance shutdown during this quarter with 20,000 man hours, which was executed in accordance with plan and budget. And we have also seen Yme and Nova performance improving.

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