Third quarter results Helge Lund, President and CEO Oslo, 3 - - PowerPoint PPT Presentation
Third quarter results Helge Lund, President and CEO Oslo, 3 November 2010 Third quarter results 14% increase in liquids prices 28.3 28.2 NOK bn. 8% increase in gas prices 17% lower equity production 4,0 13.8 6.6 1Q09 1Q10
Oslo, 3 November 2010
2
28.2 28.3 13.8 6.6
1Q09 1Q10 NOK bn. 3Q 09 3Q 10
4,0
Net operating income Net income
3
Cash flow from underlying operations Net cash flows investing activities 1321 (54) Taxes paid (57)
1Income before tax (99) + Non cash adjustments (33)
Dividends paid (19) NOK bn.
4 1 2 3
2005 2006 2007 2008 2009 3Q 09 3Q 10
Serious incident frequency
(Number of incidents per million work hours)
5 1552 1,552 1,874 Q3 2009 Turnaround liquids Turnaround gas Other Production permit Q3 2010
1000 boe/d
~ 60 ~ 90 ~ 1401 ~ 302
1 Expected natural decline, Gullfaks C06 well and rig issues, reallocation from 2Q (20’ boed), other 2 Ormen Lange oil and gas impact
6
− Gjøa, Vega and Vega South − Leismer Demonstration − Peregrino
− Valemon PDO − Marulk PDO − Jack and St. Malo in GoM − CLOV in Angola
− Eagle Ford acquisition − Successful Statoil Fuel & Retail IPO − Strengthening position in Mariner in UK
7
2010
2012
*Exclusive of capitalization of financial leases and acquisitions **Estimated full year production 2012 vs. 2010 for ramp up & new fields on stream in 2010-1012
Additional production 2010-2012** 350’- 400’ boed Marulk Fast track projects Kizomba satellites Caesar Tonga ph 1 Eagle Ford Pazflor PSVM Leismer Peregrino Skarv Vega South Vega Gjøa Marcellus Tahiti Agbami Thunder Hawk Morvin Tyrihans Ramp up & new fields on stream 2010-2012