OKEA ASA

🔔 Q3 2024 trading update We will publish our results from Q3 2024 on Thursday 31 October at 06:00 (CEST)  A short update for the quarter: 🔹 Operating income of NOK 2,926 (2,584) million 🔹 Net production of boepd 37,261 (38,357)  🔹 Net sold volume of boepd 40,789 (33,294) Join us for a presentation of our Q3 2024 results on Thursday, 31 October, starting 10:00 CEST (https://lnkd.in/d2W8CarY). The presentation will be held by Svein Jakob Liknes (CEO) and Birte Norheim (CFO).

Unified and predictable leadership builds trust 🤝 That’s why we invest in developing our leaders, ensuring they have the tools and support to lead effectively and motivate their teams. This week, 75 OKEA-leaders met in Trondheim for the bi-annual leadership forum. With the help of Tor Åge Eikerapen, we discussed 🔹 Team development 🔹Leadership communication 🔹Company strategy "We aim to facilitate unified leadership and strengthen relationships among leaders, which is crucial for building a strong and open culture," says VP People & Organisation, Bente Nordeide. ➡ There’s no ambiguity about leadership at OKEA—our leaders are aligned in delivering clarity and direction. #Operationalexcellence  

📣 Have you heard about the OKEA Technology Day? As a mid- to late-life operator, extending the life of our assets is key to our strategy. To achieve this, we invest in technology and systems that help us operate more efficiently, boost production, and minimise our environmental footprint. We understand that we can't do it all alone. To strengthen our relationships with suppliers and drive innovation, we recently hosted the first OKEA Technology Day. 10 companies presented technologies and solutions that can help us lead the way as a mid- to late-life operator on the Norwegian continental shelf. Suppliers bring technologies, competence, and diverse experience from other projects and operators. We rely on that external knowledge to meet our goals. Will we hear from you on our next OKEA Technology Day? #Operationalexcellence #Oneteam #OKEACulture  

❗ Fun Fact: Did you know that the Draugen platform is featured on Angolan Kwanza banknotes? 💵 ➡ In the early 1990s, Angola sought to harness its oil reserves, and Norwegian technology and collaboration played a key role in helping the country develop its offshore capabilities. Our iconic platform, with its characteristic shape, symbolises Norwegian offshore expertise and a historical connection between Angola and Norway through the oil industry. Featuring the Draugen platform on their currency represents more than just an advanced oil installation—it’s a powerful symbol of Angola’s aspirations to unlock the potential of their natural resources, just as Norway has done. #Funfact #Operationalexcellence

One thing is certain – no matter how much we change, the past leaves footprints 👣 and becomes part of our identity The Brage field, marking 31 years of operation, has seen its fair share of change. Over the decades, multiple owners – some undergoing transformations through consolidations and rebranding – have taken the helm. While these shifts have brought challenges, they’ve also delivered new investments, different perspectives and improvements that have kept Brage moving forward. Brage field operators 1993-2024: 🔹 Norsk Hydro 🔹 StatoilHydro 🔹 Statoil 🔹 Wintershall 🔹 Wintershall Dea 🔹 OKEA   Throughout this journey, the dedicated crew at Brage has remained constant. Their commitment to high standards and operational excellence has ensured experience transfer and stability, enabling the field to thrive despite the changes. 👷♂️ 👩🔬 👨🔧 👩🏭 👨🍳 👩🚒 👨🎓 Brage’s 31-year story is one of adapting to change, securing long-term value creation, and relying on a solid team to continue increasing recovery from the field. Thank you to all contributors for leaving your footprints at Brage 👣 #Operationalexcellence

Fostering progress through collaboration 💥 This week, we hosted the Exploration Management Forum 2024 (EMF) - and what an experience! EMF provides a unique platform for open collaboration between exploration managers from companies across the Norwegian continental shelf (NCS) and key stakeholders, including the Ministry of Energy, the Directorate, and Offshore Norge. ❓ What happens at such an event? Participants got an introduction to OKEA's strategy and plans from our CEO, Svein Jakob Liknes. We also discussed the development of the NCS and talked about politics. Participants also enjoyed a historic walking tour of Trondheim and a visit to Munkholmen, all set against the backdrop of beautiful autumn weather ☀ ❓ What are the benefits? By sharing insights and discussing important industry topics, this forum strengthens the collective knowledge and fosters collaboration across the sector. A big thank you to all the engaged attendees – we’re already looking forward to the next meeting! #Operationalexcellence

All talk and no action....? Not at OKEA   At the 31st Annual Pareto Securities Energy Conference — Europe’s largest of its kind — our CEO, Svein Jakob Liknes, shared how OKEA is driving forward with our growth strategy.   📈 For example 🔹 We have more than doubled our production volumes since 2021. 🔹 We’ve extended the lifetime of Draugen from 2027 to beyond 2040. 🔹 The electrification of Draugen will reduce CO2 intensity by 95%. 🔹 At Brage, we’ve increased production by 3.8x since becoming operator in November 2022. 🔹 From 2027, the Bestla tie-back to Brage will add 26 kboepd at peak (gross).   ➡ In other words, we continuously focus on adding further volumes through cost-effective solutions and hard work 👩🏭 👨💼 👷♀️   Thank you, Pareto, for letting us talk about our progress and connect with key stakeholders. #Operationalexcellence

🏔 Celebrating Geologiens dag! On September 7th, OKEA took part in Norway's Geology Day for the first time, hosting a stand at the Vitenskapsmuseet in Trondheim with our team—Erik Skjelstad, Helene Markhus Brekke, and Maria Josefina Cuello. Engaging with the community and igniting curiosity about geology, especially among the younger generation, is essential to us. And, of course, we always enjoy talking about OKEA, our role in the energy landscape and our contributions to society. The OKEA stand was a hit with visitors of all ages, featuring fossils, oil and rock samples, and a portable microscope that gave visitors a close-up look at oil-saturated rocks. We also set up a creativity corner where kids could unleash their imaginations by crafting their own rocks and minerals 👨🔬 👩🔬 Finally, our quiz—featuring a question about our eco-friendly rock-based paper notebooks—captivated children and adults alike! 📝 It's events like these that help foster a love for geology, inspire future generations, and highlight the exciting world of exploration. #GeologyDay #STEM #Geologiensdag

ONS in Stavanger has once again proven to be more than just an exhibition of technology—it's a demonstration that people truly make a difference. ➡ The energy industry is full of opportunities, and what better way for young professionals to deepen their understanding of the sector? For our young professional colleagues who visited ONS for the first time, it was an opportunity to see the variety of companies in the energy industry and connect with other young professionals, network with people in different stages of their careers, and explore the diverse paths they could take in oil and gas 👨🎓 👩🎓 Attending conferences, exhibitions, and industry events helps young professionals not only to stay informed but also to plan their future in a field that’s constantly evolving. 📍 Thank you, Signe Eva Helmersen, Even Moen Kirkholt and Erik Skjelstad, for joining us. And thank you, ONS, for providing an industry meeting place relevant for us all 👌 #Youngprofessionals #ONS2024 #Operationalexcellence

We’re proud to be more than just a business; we’re a community partner. Last week, the Ranheim OKEA Cup kicked off in Trondheim We believe in giving back to the society we live and operate, and supporting the causes that matter. That’s why we’re excited to sponsor the OKEA football cup Ranheim. The two-day event was a big success with: ⚽️ 200 teams ⚽️ 1600 kids ⚽️ 314 thrilling matches ⚽️ 4000 visitors ⚽️ 200 volunteers Thank you to all participants and supporters!