Second quarter 2015 Encouraging results in current market environment Efficiency improvements coming through Solid operational performance Strong cash flow and reduced net debt ratio Lowering 2015 capex guidance Changing to USD…
Financial results Solid operational performance 2Q 2015 NOK bn Tangible cost improvements 10.1 31.5 (9.1) 22.4 (15.2) 7.2 Continued high regularity (16%) (2%) (31%) (27%) Strong results from MPR Driven by refinery margins and…
Adjusted earnings by segment Statoil group 1) D&P Norway D&P International MPR Strong momentum on Production growth and Positive underlying cost Continued strong deliveries improvement agenda cost improvements development…
Strong production performance Continued high production regularity Equity production mboe/d Ramping up new liquid fields 1873 1799 1927 Gudrun, Valemon, CLOV, Jack/St.Malo 7% underlying growth1) 9% on NCS Gas Liquids 5 1)…
Cash flow 2015 Strong cash generation 2015 YTD; NOK bn High earnings after tax from MPR Proceeds from divestments Adjusted net debt to capital employed of 22% 6 1) Income before tax (0) + Non cash items (88)
Efficiency improvements coming through Operational efficiency improvements to date 2015 Adjusted upstream opex and SG&A2) Rebased; 2Q14 = 100 1) 2014 2015 YTD 1) Field cost NCS = Installation subsea and topside operation…
Outlook 2015 Capex USD 17.5 bn1) Production 2% annual organic growth 45 mboe per day Maintenance 45 mboe per day in 3Q Exploration USD 3.2 bn1) 8 1) Assuming NOK/USD of 7.76
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Supplementary information Dividend declaration and currency conversion Second quarter 2015 From third quarter 20152) Announcement 28 July: Dividend announced at 1.80 NOK per Announcement Dividend to be announced in USD per share ordinary…
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