Statoil: 2012 fourth quarter results

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STAVANGER, NORWAY--(Marketwire - Feb 7, 2013) - Fourth quarter and preliminary 2012Operating and Financial review

Statoil's (OSE:STL, NYSE:STO) fourth quarter 2012 net operating income wasNOK45.8 billion. In 2012, net operating income was NOK 206.6 billion.

Statoil delivered equity production of 2,004 mboe per day in 2012,increased by8% from 1,850 mboe per day in 2011. Adjusted earnings increased by 7% toNOK193.2 billion in 2012, from NOK 179.9 billion in 2011. Statoil achieved anorganic reserve replacement ratio (RRR) of 1.1 in 2012.

"2012 was a year of strong strategic and operational progress for Statoil.Wegrew our production by 8% in 2012, in line with the target we announced in2011, and we deliver strong earnings growth. We are well underway todeliverprofitably on our ambition of producing more than 2.5 million barrels ofoilequivalents per day in 2020," says Helge Lund, Statoil's president and CEO.

"Statoil's strategy remains firm. We continue our strong explorationperformance, adding more than 1.5 billion barrels in new resources, and wearematuring our high quality project portfolio, including the Johan SverdrupandSkrugard fields. We continue to manage our balance sheet and enter 2013from arobust financial position," says Lund.

Statoil's Board of Directors will propose to increase the dividend to NOK6.75per share for 2012. This is in line with the company's dividend policy andanincrease from NOK 6.50 in 2011.

Statoil maintains its ambition of producing more than 2.5 million barrelsof oilequivalents per day by 2020 and estimates organic capital expenditures for2013at around USD 19 billion. The company will complete around 50 explorationwellsin 2013 with a total exploration activity level at around USD 3.5 billion.

Terror attack in Algeria

On 16 January 2013, Statoil together with our partners BP and Sonatrach,werehit by a terror attack on the In Amenas gas production facility in Algeria.Fiveesteemed and dear Statoil-colleagues lost their lives in the attack. Twelveofour employees managed to escape to safety. Many colleagues from partnersandsuppliers are confirmed dead or remain unaccounted for.

"What happened in Algeria is brutal, international terrorism of the worstkind.This affects innocent people from a variety of nations and innocent victimsfroma number of companies and countries have been subjected to senselessviolence.The whole of Statoil is strongly affected by the terror attack. We continuetoassist and support the families, friends and colleagues who have lost thosedearto them. The safety of our staff and partners will remain our highestpriority,"says Lund.

Statoil will conduct an investigation to determine the relevant chain ofeventsbefore, during and after the In Amenas terror attack in order to enableStatoilto further improve within the areas of security, risk-assessment andemergencypreparedness.

Capital Markets Update

Today, Statoil presents the Capital Markets Update, focusing on ourposition asthe leading oil and gas operator in Norway and the second largest gassupplierto Europe.

"On the Norwegian continental shelf, we announce that we are on track tomeetour ambition of producing more than 1.4 million barrels of oil equivalentsperday in 2020," says Lund.

"We also announce that Statoil's gas sales in the European markets wereall-timehigh in 2012, at solid prices. We see a strong outlook for the European gasmarkets and are well positioned to capture value as the markets develop,"saysLund.

Statoil also announces today increased gas volumes for the Block 2discoveriesoffshore Tanzania to 7-9 Tcf in total recoverable resources.

Fourth quarter results 2012

Statoil's net operating income was NOK 45.8 billion compared to NOK 60.7billionin the fourth quarter of 2011.

Adjusted earnings were NOK 48.3 billion, compared to NOK 45.9 billion inthefourth quarter of 2011.

Adjusted earnings after tax were NOK 15.1 billion, up from NOK 14.5 billioninthe fourth quarter of 2011.

Net income was NOK 13.0 billion compared to NOK 25.5 billion in the fourthquarter of 2011.

Key events since third quarter 2012

* Creating value from a superior gas position, by entering into along-term gas sales agreement with Wintershall for the delivery of a total of 45 billion cubic meters (bcm) to the German and other North-West European markets.

* Building new growth on the NCS through submission of the Dagny andAasta Hansteen development plans (PDO), start-up of Visund South and approvalof the Svalin fast-track development.

* Building material positions in offshore business clusters, byinvestment decisions to develop the Mariner oil field (Statoil-operated) in the UK North Sea and the Hebron development project offshore Canada.

* Continuing the development of Statoil as a leading global exploration company, by making a third discovery offshore Tanzania, addingadditional acreage in the Espirito Santo Basin offshore Brazil, and added barrelsto the Johan Sverdrup field.

* Continuing portfolio management and expanding in unconventionals,through the acquisition of around 70,000 operated net acres in the liquid richpart of the central Marcellus area.

* Further strengthening our financial position through the execution ofUSD 2 billion in debt capital market transactions at highly competitiveterms.

This information is subject of the disclosure requirements pursuant tosection5-12 of the Norwegian Securities Trading Act.

4th quarter 2012 Press release:http://hugin.info/132799/R/1676231/546270.pdf

4th quarter 2012 Financial statements and review:http://hugin.info/132799/R/1676231/546269.pdf

Capital Markets Update 4th quarter and full year 2012 Strategy update:http://hugin.info/132799/R/1676231/546299.pdf

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Source: Statoil via Thomson Reuters ONE

[HUG#1676231]

Contact:
Further information from:

Investor relations
Hilde Merete Nafstad
Senior Vice President Investor Relations
+ 47 957 83 911(mobile)

Morten Sven Johannessen
Vice President Investor Relations USA
+ 1 203 570 2524 (mobile)

Press
Jannik Lindbaek jr
Vice President for Media Relations
+ 47 977 55 622 (mobile)

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