Strong financial results Exploration success Strong cash flow Operational performance as expected Building production capacity Value creating transactions 2
Production Production in line with expectations Equity production mboe/d High maintenance effect 1971 2102 1957 1945 Seasonal lower gas off-take 1692 885 1552 809 Ramping up new production capacity 847 839 616 533 1217…
Record net income Net income positively impacted by 2Q 2011 (NOK bn) value creating transactions 27.1 61.0 (17.4) 43.6 (30.8) 12.8 High realizations Oil price up 32% (NOK) Gas price up 28% (NOK) Oil and gas lifting down 18% Net…
Adjusted earnings by Business Area NOK bn. 2Q 2011 2Q 2010 Adjusted earnings Adjusted earnings Business area pre tax after tax pre tax after tax D&P Norway 37.0 9.3 29.1 7.6 International D&P (DPNA & DPI) 5.8 3.0 2.9 1.4…
Cash flow from underlying operations YTD 2011 Cash flow from underlying operations Taxes paid Cash flows Cash flows 120 1) (45) from sale of to Investing Strong cash generation assets activities 29 (38) Solid financial position…
Forward looking Guiding 2011 Organic capex of USD 16 billion Exploration activity USD 3 billion Production guiding towards 2012 3 percent CAGR 2010-2012 2011 production expected slightly below 2010 level 7
8
Supplementary information Items impacting net operating income 2Q 12 Indicative PSA effect 23 Taxes 13 Reconciliation of adjusted earnings to net operating income 24 Tax rate reconciliation 2Q 14 Forward looking statements 25 Net…
Items impacting net operating income Q2 2Q 2011 2Q 2010 (NOK billions) Before tax After tax Before tax After tax Impairments (2.2) (2.2) 3.0 2.4 DPI (2.3) (2.3) (0.2) (0.2) MPR 0.1 0.1 3.1 2.5 SFR 0.1 0.1 Derivatives IAS 39…
Taxes Tax on Adjusted adjusted Composition of tax expense and effective tax rate earnings earnings Tax rate D&P Norway 37.0 (27.7) 75 % D&P International 5.8 (2.8) 48 % Marketing, Processing & Renewable energy 0.5 (0.5) 100 %…
Tax rate reconciliation 2Q 2011 Tax on Adjusted adjusted Composition of tax expense and effective tax rate earnings earnings Tax rate D&P Norway 37.0 (27.7) 75% D&P International 5.8 (2.8) 49% Marketing, Processing & Renewable…
Net Financial Items 2Q 2011 Interest income and Net foreign exchange other financial items gains/losses NOK bn 0.9 Interest and other net Net financial items (1.4) finance expenses 2Q 11 0.2 0.7 13
Development in net debt to capital employed Net financial liabilities Net debt to capital employed* NOK bn 73.8 25% 25% 68.0 21% 55.2** 19%** 18% 48.2 17% 46.0 43.8 14% 38.2 12% 25.5 2006 2007 2008 2009 2010 1Q…
Long term debt portfolio Redemption profile 30.06.2011 15
Adjusted Earnings - Break-down 3.4 NOK bn 0.2 Other 1.9 Crude oil processing, marketing and trading 0.5 Natural gas marketing and trading 1.4 Natural gas processing 1.1 and transportation -0.1 -0.1 -0.4 -0.1 2Q 2011…
Statoil production per field DPN 2Q 2011 Statoil-opeatoil share Produced volum es Partner-operStatoil share Produced volumes 1000 boed Oil Gas Total Alve 85.00 % 10.1 11.5 21.6 1000 boed Oil Gas Total Brage 32.70 % 6.8 0.7 7.5…
Statoil equity production per field DPNA & DPI 2Q 2011 Development and Production International (DPI) Produced equity volumes - Statoil share DPNA Produced equity volumes Statoil share 1000 boed Statoil share Liquids Gas Total 1000…
Exploration Statoil group Exploration Expenses Second quarter First half Exploration Expenses Second quarter First half (in NOK billion) 2011 2010 2011 (in NOK billion) 2011 2010 2011 Exploration Expenditure (Activity) 3.9 3.8 8.3…
Margin and prices Refining margin Methanol contract price EUR/ton 6 350 5 300 4 250 3 200 2 150 1 100 0 50 1Q 10 2Q 10 3Q 10 4Q 10 1Q 11 2Q 11 J F M A M J J A S O N D Reference Margin 2011 2010 2009 20 * The…
Indicative PSA effects Indicative PSA effect 70% of international equity (mmboe/d) production in 2012 subject to PSA Assumed oil price 2011-12 PSA effect in 2011 expected to be 110 0.26 slightly lower than 2010 for comparable…
Reconciliation of adjusted earnings to net operating income 22
Investor Relations in Statoil Investor relations Europe Hilde Merete Nafstad Senior vice president hnafstatoil.com +47 95 78 39 11 Anne Lene Gullen Brten IR officer angbrstatoil.com +47 99 54 53 40 Lars Valdresbrten IR officer…
Statoil is an integrated technology-based international energy company primarily focused on upstream oil and gas operations Headquartered in Norway we have more than 30 years of experience from the Norwegian continental shelf,…
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