Statoil reports consistent deliveries

Third quarter Operating and Financial Review

Helge Lund at Oseberg Field Center wearing helmet with Statoil's new logo. Photo: Harald Pettersen / Statoil.

Statoil’s third quarter 2009 net operating income was NOK 28.3 billion, compared to NOK 47.0 billion in the third quarter of 2008.

“Statoil delivers solid financial and operational results and continues to maintain a high activity level both in Norway and internationally. We have increased our equity production to 1,87 million barrels of oil equivalents per day, up eight per cent from third quarter 2008. Our operations outside of Norway contributed with more than 500,000 barrels of oil equivalents per day,” says Statoil’s chief executive Helge Lund.

The quarterly result was mainly affected by a 31% drop in oil prices and a 32% decrease in the average price of natural gas.

Adjusted earnings in the third quarter 2009 were NOK 31.2 billion.

“Since the second quarter we have started operations on several new oil and gas fields such as Tyrihans in the Norwegian Sea, Tune South in the North Sea and Thunder Hawk in the Gulf of Mexico, and our exploration programme continues to yield good results,” says Lund

Read more on Statoil.com

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