Quarterly / Earnings Reports | Third Quarter (3Q) Update | Production Rates | Drilling Program
Statoil Grows Production 4% Since 2014
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Statoil delivered adjusted earnings of NOK 16.7 billion and adjusted earnings after tax of NOK 3.7 billion in the third quarter.
Statoil delivered production of 1,909 mboe per day in the third quarter, up 4% compared to the same period in 2014. The underlying production growth, after adjusting for divestments, was 7% compared to the third quarter last year. The production from the Norwegian continental shelf (NCS) grew 10% in the third quarter of 2015 compared to last year, adjusted for divestments. Equity production outside of Norway was 735 mboe per day, a 4% increase compared to the same period last year, adjusted for divestments.
Statoil is pleased with the development of Johan Sverdrup with cost estimates coming down by 7%. However, Statoil and its partners have decided to accept a…
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