Enhancing value London, 6 February 2015 Classification: Internal 2012-10-24 Torgrim Reitan, Executive Vice President and Chief Financial Officer
2014 Strong operational quality Earnings Stable cost level, earnings impacted by prices and impairments Production Higher than expected due to strong regularity Capex USD 19.6 bn Reserves 96% organic RRR Resources 540 million boe added…
Financial results negatively impacted by prices Full year 2014 Fourth quarter 2014 NOK bn NOK bn 22.0 109.5 26.6 136.1 (97.0) 39.1 -8.9 9.0 17.9 26.9 (22.6) 4.3 ( 44%) (30%) ( 17%) (16%) (100%) (35%) (36%) (61%) Net income…
Cost focus across the business Statoil Group1) D&P Norway D&P International MPR Strong operational High operational Impacted by exploration Solid results from quality efficiency and US onshore gas value chains Johan Sverdrup:…
Strong production above guided level Equity production 4% organic growth YoY mboe/d Record operational efficiency 2103 1945 1927 1940 on NCS Record international production 925 858 801 825 1179 1127 1115 1087 4Q2014…
Cash flow 2014 in line with expectations NOK bn Dividends paid for both 2013 and first two quarters Cash flow from of 2014 operating activities Taxes paid 209 1) (97) Investments in line with guiding Dividend paid Proceeds from…
Organic RRR 1 bn boe Solid organic RRR in 2014; total RRR 1.3 22 (0.7) 22 impacted by divestments (0.7) 96% organic RRR, 62% total RRR Both organic and total RRR for liquids above 100% 117% three-year average organic 0.6 RRR…
Capital markets update 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…
Prepared to use material flexibility Material flexibility in portfolio Flexibility from onshore and non-sanctioned projects 1) Capital expenditure Flexibility US onshore Bay du Nord Snorre 2040 Tanzania LNG Johan Castberg Po de Acar…
Steering through volatility with strong cash flow Strong cash flow from operations (CFFO) Well positioned across scenarios 30 30 2015/16 2017/18 100/bbl 25 100/bbl 25 80/bbl 80/bbl 20 100/bbl 20 100/bbl Flexibility USD bn…
Robust financial framework Strong balance sheet to be maintained 30% A-category rating on stand- alone basis Net debt to capital employed 60/bbl 25% 26% Net debt to capital employed at 15-30% 20% 21% 80/bbl 60/bbl 20% Long…
USD 5 bn in cash improvements Efficiency Activity Operational quality Stepping up 2016 deliveries Using flexibility (2015) Stepping up production efficiency USD bn USD bn USD bn CMU 2014 CMU 2015 0.4 1.7 0.2 2.2 +5 %- 1.1 2.0…
Efficiency improvements on track USD 0.6 bn realised in 2014 Stepping up 2016 ambition by 30% Efficiency programme covers full operated cost base Strong momentum across organisation 14
Production growth from 2014-18 from projects in execution Equity production mboe/d 2200 3% CAGR 2100 2% 2000 +4% CAGR 4% organic growth YoY in 2014 +2% 1900 1927 2% production CAGR for 1800 1850 Divestments 1868 1868 2014-16 1700…
Enhancing value Period Outlook Key messages USD 2 bn reduction Capex 2015 USD 18 bn1) Prepared to use flexibility 2% annual organic Production 2014-16 Improved regularity growth Reducing cash flow Cash 2016 USD 5 bn (total)…
Supplementary Information Classification: Internal 2012-10-24
Investing for profitable growth Investment profile 2015-16 100 % Exploration MPR and MPR and MPR and Other Other Non-OECD Other 65% in liquids Rest of 80 % world Gas 55% in new assets Non- operated New assets E&P INT 60% in…
Sensitivities1) Indicative effects on 2015 results NOK bn Oil price: 8 + USD 10/bbl 20 Gas price: + NOK 0.50/scm 7 21 Exchange rate: USDNOK +0.50 8 20 Net income effect Net operating income effect before tax The…
Long term debt portfolio Redemption profile 31.12.2014 21
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