Statoil, the Norwegian energy group which is selling its Irish operations, yesterday reported a slightly smaller than expected jump in fourth-quarter operating profits, driven by booming oil and gas prices.

Earnings before interest and tax rose 48 per cent to 27.8 billion Norwegian crowns (€3.5 billion) in the three months to the end of December, from 18.8 billion Norwegian crowns in the year-earlier period. However, the company said yesterday production missed forecasts mainly due to declining output from large ageing fields off the coast of Norway.

Earlier this month, the group put its Irish service station businesses up for sale with an estimated price tag of €200 million.

Yesterday Morten Henriksrud, a spokesman for the group, said the company had been in contact with possible buyers but had not yet received any expressions of interest.

The company is aiming to sell its Irish operation, which includes 69 service stations, supply contracts with another 167 outlets, fuel terminals in Dublin, Cork and Galway, and interests in a number of smaller heating oil supply companies by the end of this year.

The planned sale follows the disposal of its 30 per cent interest in the Ringsend gas power plant in Dublin to Royal Bank of Scotland Power Investments at the end of last month.

Statoil doesn't break out individual performance figures for its Irish operation. Overall net income for last year was 30.7 billion Norwegian crowns, up 23 per cent from 2004.

The company produced an average of 1.17 million barrels of oil equivalent a day last year, 6 per cent ahead of the prior year.

It also confirmed its production target for 2007 as 1.4 million barrels a day.