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Q1 2023 Aker BP ASA Earnings Call Transcript
Good morning, everyone, and welcome to this presentation of Aker BP's First Quarter Results for 2023. Our CFO, David Tonne, and I will hopefully provide some insight into our performance and outlook and the presentation is as normal, followed by a Q&A session.
It is a real pleasure to report yet another strong quarter for Aker BP. We produced more oil and gas than ever at low cost and the lowest emission intensity in the oil and gas industry. To me, this is a result of having world-class assets and a dedicated team with a culture for operational excellence and continuous improvement. I am also extremely pleased to report that our field developments are on track. We are off to a good start for the new project that we launched in December, where procurement and detail engineering are progressing as planned.
And with the strong performance comes strong results. In Q1, we delivered EBITDAX of roughly $3 billion and a free cash flow of nearly $1 billion, almost 3x the amount we paid in dividends, and we reiterate the full year guidance that we
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