Okea Q2 FY26 net profit drops 61.11% to USD 14 million

• Okea posted Q2 2026 net profit after tax of USD 14 million, down from USD 36 million in the prior quarter.
• Total operating income climbed 40% quarter-on-quarter to USD 334 million, including USD 15 million in net hedging gains.
• Revenue rose to USD 313 million from USD 264 million, as net production fell to 27 kboepd from 35 kboepd on planned maintenance.
• Impairments swung to a USD 94 million charge from a USD 154 million reversal, including USD 86 million at Statfjord.
• Okea cut 2026 production guidance to 29-32 kboepd, raised 2027 to 39-43 kboepd, citing Garn West South start-up now expected in Q3.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Okea ASA published the original content used to generate this news brief via Cision (Ref. ID: 20260715:BIT:9079:0) on July 16, 2026, and is solely responsible for the information contained therein.