Statoil reported a slightly smaller-than-expected 44 per cent jump in first-quarter operating profit.
Operating profit rose to 30.98 billion kroner ($5.05 billion) in January-March from 21.49 billion kroner in the same quarter a year earlier.
The result lagged an average forecast of 31.68 billion kroner in a Reuters poll of 16 analysts but came within the range of estimates of 29.93 billion to 33.78 billion kroner.
Oil and gas production rose to 1.24 million barrels of oil equivalent per day (boed) in the first quarter from 1.19 million in the same quarter of 2005. Output exceeded analysts' average forecast of 1.23 million boed.
Statoil stuck to its 2006 goal for oil and gas output of 1.2 million boed and its 2007 target of 1.4 million boed.
