Norwegian Aker BP's operating profit totaled $472 million in the first quarter of 2018, up from $273 million in the same quarter of 2017, the company said on Monday.
Aker BP said the total operating income also increased to $890 million from $646 million driven by record high production of 158.6 thousand barrels of oil equivalent (boe) per day.
The company said that higher oil prices also helped deliver strong results for the first quarter of this year.
Production costs amounted to $12.1 per boe in line with the company’s guidance of $12 per boe for 2018.
Aker BP is a company set up from the merger of BP's Norwegian business and Det Norske.
Norwegian Energy Company Det Norske and BP agreed to merge their businesses in Norway through a share purchase transaction in January 2016.
By Murat Temizer
Anadolu Agency
energy@aa.com.tr