Capital Markets update London, 6 February 2015 Classification: Internal 2012-10-24
Seizing the opportunity London, 6 February 2015 Classification: Internal 2012-10-24 Eldar Stre, President and CEO
Firm priorities, stepping up commitments 2% organic production growth 2014-16 Reducing organic capex level to USD 18 bn in 2015 High value growth FCF to cover dividend in 2016100, 201780 and 201860 Robust financials: Maintaining…
Strengthening our capacity to create long-term value Well prepared Seizing the opportunity Investing in world-class projects Efficiency programme 1.7 Reduced spending 2.2 Operational Excellence 1.1 Total 5 The Capital Markets…
2014 Financial and operational performance Safety improvement Four percent production growth Solid adjusted earnings Serious incident frequency1) mmboe/d NOK bn 1.4 2.1 2.00 225 193 1.5 1.96 1.94 180 1.1 1.89 1.93 163 1.0 143 136 0.8…
Firm financial framework - through the cycle Investing in premium projects Competitive dividend Organic investments, USD bn Nominal, NOK per share 25 8.0 18.0 19.0 19.6 18 20 15.8 7.5 7.20 15 7.00 7.0 6.75 10 6.50 5 6.5 6.25 0…
Stepping up our improvement programme Progress on track 30 percent step-up Realized USD bn Modification costs improvements of reduced by CMU 2014 CMU 2015 600 24 USD million percent 1) 0.3 1.3 0.4 1.7 1.0 Offshore well…
Step-change in operational performance 5 %-points increase in Delivering high-value growth production efficiency1) 50,000 additional boe/d Reduced unplanned losses mboe/d Reduced maintenance backlog 2100 Efficient execution of…
Strengthening midstream and trading business Value uplift and trading A modernised European contract Changes in oil vs gas risk portfolio exposure1) Oil indexed Gas indexed Other Gas (NBP) Oil (Brent) 250% 100 % (Jan 2010 =…
Johan Sverdrup A world-class project The field is one On plateau it will of the represent 5 largest oilfields on the 25 percent of the total NCS ever production in Norway Producing for more Break-even than below 50…
Continued focus on exploration A leading explorer1) Consistent exploration effort Build for the future in 2015 4.4 bn boe discovered last USD 3.2 bn in exploration Deepening positions in four years spend prolific basins…
Sustainable performance Competitiveness Carbon Communities Extensive efficiency A leading O&G company on Transparency the programme carbon efficiency1) currency for trust High-graded and flexible Developing low cost / low Local…
Key messages Priorities remain unchanged Well prepared Seizing the opportunity Investing for the future 14