The Oslo-listed company earned $41.3m to 30 June versus $23.9m in the first quarter of the year.

It came on revenue of $68.6m, which was $20m higher than the figure posted in the previous three months.

The performance by Avance was slightly better than the market’s expectations as the company secured earnings per share of $1.20 compared to projections of $1.11.

Christian Andersen, president of Avance Gas, told TradeWinds: "We are quite happy with the result.