In the fourth quarter of 2025, OKEA ASA reported operating income of USD 107 million and an EBITDA of USD 50 million, compared to USD 224 million and USD 117 million respectively in the previous quarter. The company recorded a net loss of USD 18 million, primarily due to significant underlift and asset impairments. Net production averaged 30.8 thousand barrels of oil equivalent per day (kboepd), slightly down from 31.7 kboepd in the prior quarter, with total production for the year reaching 32.1 kboepd, within guided targets.
OKEA’s capital expenditures (capex) for 2025 totaled USD 362 million, also within guidance. The company maintained its production and capex guidance for 2026, targeting 31 to 35 kboepd and USD 300 to 360 million, respectively. For 2027, OKEA introduced guidance reflecting the completion of the Bestla development project, expecting production between 37 and 41 kboepd and capex of USD 230 to 290 million.
**Why this matters**
OKEA’s financial results and updated guidance provide insight into the company’s operational performance and strategic outlook. The planned increase in production for 2027, alongside reduced capital expenditure, signals a focus on optimizing asset value and efficiency. This information is relevant for investors and stakeholders monitoring the company’s growth prospects and financial health in the Norwegian continental shelf oil and gas sector.
Source: NewsData