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Norwegian independent oil company Aker BP on Wednesday posted higher-than-expected net profit for the first quarter as costs fell, and said its Tyrving field development could start production sooner than previously planned.
Aker BP and its partners Equinor and Sval Energy have commenced production from the Hanz field in the Norwegian North Sea.
Aker BP said lower oil prices offset higher gas prices and increased volumes.
Production at the Equinor-operated Johan Sverdrup oilfield, the North Sea's largest, is expected to start declining from peak levels in about a year…
Norway on Tuesday awarded stakes in 62 offshore oil and gas exploration licences to 24 energy companies, including state-controlled Equinor , boosting the amount of acreage offered as the country seeks to pump for decades to come.