Aker BP’s oil and gas production fell 4.6% in third-quarter 2018 to 150,600 barrels of oil equivalent per day (boe/d) due to maintenance at two of its fields, the company said Oct. 5.

The company, 30% owned by BP, however, maintained its full-year production guidance of 155,000 to 160,000 boe/d. Aker BP said production in the third quarter was affected by planned maintenance activities at the Skarv and Alvheim fields as well as reduced exports from Skarv.

Production from the Valhall Field, which it acquired from Hess Corp. a year ago, also rose less than it expected due to a longer than planned well testing program.

“As a result, some of the production growth that was expected from Valhall in the third quarter has been moved to coming quarters,” the company added.

Valhall output stood at 35,100 boe/d in the third quarter.

Aker BP shares were 1.2% down by 08:27 GMT, underperforming European oil and gas index which was down 0.2%.

Analysts at Sparebank 1 Markets said the overall third-quarter production was disappointing and may trigger some discussion around downside risk to the company's overall 2018 guidance.

Offshore