Equinor Asa · OSL:EQNR
Equinor Asa — Statoil — Q4 2011 Earnings Presentation
10 slides from Equinor Asa's earnings presentation, Feb 8, 2012
Slide 1: 4th quarter and full year 2011
4th quarter and full year 2011 Oslo, February 8 2012 Helge Lund, President and CEO
Slide 2: 2011 operational performance
2011 operational performance Continued safety Record net operating improvements income Serious Incidents Frequency* 250 Billion NOK (per million work hours) 200 1,30 150 211,8 0.90 100 137,3 121,6 50 0 2010 2011 2009 2010 2011 Successful Growth in dividend exploration efforts Dividend New resources
Slide 3: Reserve replacement ratio (RRR)
Reserve replacement ratio (RRR) Annual RRR 3-year average RRR % % 140 100 90 92 120 117 80 100 70 80 87 60 64 64 60 73 50 60 40 40 30 34 20 20 10 0 0 2008 2009 2010 2011 2008 2009 2010 2011 3
Slide 4: Production as expected
Production as expected • 2% increase compared to 4Q 2010 Equity production mboe/d • Start-up of new fields 1888 1945 1971 1764 1975 1850 1692 • Ramp-up from existing fields 766 839 847 616 640 826 732 • Value creation from gas optimisation 1122 1105 1124 1075 1124 1149 1118 Full 4Q 1Q 2Q 3Q 4Q Full
Slide 5: Adjusted earnings
Adjusted earnings NOK bn. 4Q 2011 2011 2010 Adjusted earnings Adjusted earnings Adjusted earnings Business area pre tax after tax pre tax after tax pre tax after tax D&P Norway 38.2 9.3 150.4 37.2 111.9 29.1 International D&P (DPNA & DPI) 1.6 3.3 16.8 9.9 13.9 6.6 Marketing, Processing and Renewable
Slide 6: Increased opportunities in growing gas markets
Increased opportunities in growing gas markets Asian gas demand* [bcm] US gas demand* [bcm] European gas demand* [bcm] 1100 1100 1100 700 700 700 300 300 300 2010 2020 2030 2010 2020 2030 2010 2020 2030 Underlying fundamentals Different market dynamics supportive of gas • Asia – LNG imports to meet
Slide 7: Attractive positions in US onshore production
Attractive positions in US onshore production Marcellus – gas asset • Early entrance • Large and diversified position in • 300 wells producing - 400 additional wells leading unconventional plays drilled – low tie in cost • Significant resources held by production • Producing around 40 mboe/d • Stron
Slide 8: Successful exploration
Successful exploration 2011: 41 wells completed - 22 discoveries 2012-2014: Planned areas with high impact wells* Peregrino S Johan Sverdrup Skrugard and Havis Canada - Arctic Angola - Presalt Indonesia - Frontier Going forward • Operatorship • Operatorship • Operatorship • 40 wells in 2012 • 20
Slide 9: Outlook 2012
Outlook 2012 • Organic capex of around USD 17 billion • Exploration activity at around USD 3 billion − Around 40 wells in 2012 − Around 20 high impact wells 2012-14 • Around 3 per cent CAGR in production 2010-2012 • Uncertainties 2012 − Gas value over volume − Start-up and ramp-up − Operation regula
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