OSLO (AFP) - Statoil could face difficulties because of the moratorium on deepwater drilling imposed in the Gulf following the spill from a BP well.

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Norwegian energy giant Statoil said Thursday its second quarter net profit jumped sharply but the figures fell short of expectations and it warned of the fallout from the Gulf of Mexico spill.

The company said it could face difficulties in the coming months because of the six-month moratorium on deepwater drilling imposed in the Gulf following the spill from a BP well.

It also said the "gas market will be challenging in the near term" and that production would be affected by maintenance in the third quarter.

Between April and June, the state-owned group's net profit was 3.1 billion kroner (388 million euros), up from a meager 26 million kroner a year earlier, when the tax rate was unusually high, the company said.

"This result reflects higher oil prices and increased liftings, lower net financial losses and lower tax rates," the company said.

It noted, however, that the good results were "party offset by lower gas prices, impairments, losses on derivatives and an onerous contract compared to the second quarter of 2009, when net income was zero and the tax rate unusually high."

Sales rose 23 percent to 129.2 billion kroner, while operating income was up nine percent to 26.6 billion kroner.

The results fell well short of analyst forecasts compiled by Dow Jones Newswires for sales of 134.8 billion kroner, operating income up 59 percent to 38.7 billion and net profit of 11.6 billion kroner.

The company's share price was down 2.59 percent to 128 kroner on a flat Oslo stock market.

Statoil, 67-percent owned by the Norwegian state, is the Nordic region's largest company and the world's main operator of offshore oil platforms.

It extracted some 1.96 million barrels of oil-equivalent per day (mboed) in the second quarter, up six percent from a year ago.

"Statoil's production is on track ... However, planned maintenance turnarounds will heavily impact production in the third quarter," chief executive Helge Lund said.

The company reviewed its production projections downwards for 2012 to 2.06-2.16 mboed, down from 2.1-2.2 mboed, due the sale in May of 40 percent of its Peregrino offshore assets to China's Sinochem. The Peregrino field is to start production in early 2011.

Statoil is mainly present present in offshore oil and gas fields around Norway but is also the fourth-largest operator in the Gulf of Mexico.

"Statoil has not recognised any provision for onerous contracts in the second quarter 2010 following the current moratorium," it said.

But it warned that if sustained, the moratorium could "significantly affect Statoil's exploration activity" in the Gulf.

"We understand that the US authorities must study the accident in detail ... but when they conclude (the study), it is important to get a predictable, stable framework as soon as possible," Lund said, estimating the current moratorium would cost Statoil 100 million dollars if it runs for six months.

He also said Statoil would join forces with Exxon Mobil, Chevron, Royal Dutch Shell and ConocoPhillips which announced last week they were forming a joint venture to design, build and operate a rapid-response system in the case of future oil spills.

"Yesterday, I wrote a letter to the (chief executives) of the involved companies, with the message that we want to contribute," Lund said.