BAKU, Azerbaijan, May 1. In 1Q2024, Equinor achieved a total equity production of 2,164 thousand barrels of oil equivalent per day (mboe/d), Trend reports.
According to the company's latest financial statement, this marked an increase from 2,130 mboe/d in the same quarter last year. As Equinor explains, this growth can be attributed to robust operational performance.
Enhanced capacity at Johan Sverdrup and the ramp-up of Breidablikk, alongside the commencement of new wells, fueled increased production on the Norwegian continental shelf, the producer added.
Internationally, the Vito field in the US Gulf of Mexico, the Buzzard field in the UK, and new wells in Angola collectively contributed to a 3-percent growth in production.
However, Equinor's production decreased slightly year-on-year from 2,197 mboe/d produced in 1Q2023.
Meanwhile, in 1Q2024, Equinor posted an adjusted operating income of $7.53 billion, with $2.57 billion after tax. Net operating income stood at $7.63 billion, resulting in a net income of $2.67 billion. Adjusted net income amounted to $2.84 billion, translating to adjusted earnings per share of $0.96.