Swedish energy firm Lundin Petroleum more than doubled its production and revenues in 2016.
President and CEO Alex Schneiter said it had been an outstanding 12 months for the company, which managed to drive its operating costs down to a record low of $7.8 per barrel.
Lundin produced 72.6million barrels of oil last year, up from 32.3million in 2015.
Revenues came to $1.16billion in 2016, compared to $569million the previous year.
The year was further marked by the acquisition of an additional 15% stake in Edvard Grieg from Statoil.
But the company’s net result for the year was hit by a $550million impairment following the decision to remove the booked contingent resources in Russia and Malaysia.
Mr Schneiter said: “In 2017 we will continue to see our production increasing while on the project development side, we will have the most active year ever with Johan Sverdrup Phase 1 project execution.
“In parallel, we will be drilling some world class exploration targets in the southern Barents Sea while continuing to work on an appraisal programme in our Alta and Gohta discoveries.”