Aker Bp Asa Ord (AKRBF) Q2 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.321 Good morning and welcome to Akabipi's presentation of our Q2 2020 fund 00:00:05.321 -- 00:00:10.330 results. Today's agenda reflects a strong quarter with clear momentum 00:00:10.330 -- 00:00:14.729 across both our operations and our strategic priorities. 00:00:14.729 -- 00:00:19.915 We will begin with an update on our operational performance, which continues 00:00:19.915 -- 00:00:25.222 to deliver solid results. Then we will move on to our field development portfolio, 00:00:25.222 -- 00:00:30.108 where we remain firmly on track, and where we have sanctioned two new expansion projects 00:00:30.108 -- 00:00:34.513 this quarter at Johan Sverdrup and Yggdrasil. 00:00:34.513 -- 00:00:39.379 We are also pleased to share encouraging news from Yggdrasil on the exploration side, 00:00:39.379 -- 00:00:43.923 where we have discovered more oil in an ongoing exploration well. 00:00:43.923 -- 00:00:49.046 And as always, our CFO David Turner will guide you through the financials later 00:00:49.046 -- 00:00:51.247 in the presentation. 00:00:51.314 -- 00:00:54.939 In the second quarter, production averaged 415,000 00:00:54.939 -- 00:00:59.325 barrels per day, down 26,000 barrels from the first quarter. 00:00:59.325 -- 00:01:04.272 This decline was primarily due to a one-month planned maintenance shutdown at Valhall 00:01:04.272 -- 00:01:09.700 and Ula. Despite the shutdown, we maintained a portfolio-wide production efficiency 00:01:09.700 -- 00:01:15.027 of 95%. Our other assets, including Johan Svaldrup, continued to perform 00:01:15.027 -- 00:01:21.453 really well, with a production efficiency ranging from 96% to nearly 100%. 00:01:21.453 -- 00:01:26.719 During the Valhall shutdown, we also reached a key milestone on PVP Fenris. 00:01:26.719 -- ...