Baku, Azerbaijan, July 25
By Leman Zeynalova – Trend:
Norway’s Equinor has increased the international natural gas sales by 1.2 billion standard cubic meters in the second quarter of 2019, as compared to the same period in 2018, Trend reports citing the company.
“Natural gas sales volumes amounted to 14.6 billion standard cubic meters (bcm) in the second quarter of 2019, up 1.2 bcm compared to the second quarter of 2018. Of the total gas sales in the second quarter of 2019, entitlement gas was 13.1 bcm, up 0.7 bcm from the second quarter of 2018. The increase was mainly due to an increase in NCS entitlement volumes and higher sales of third-party gas,” reads the report released by Equinor.
The report shows that liquids sales volumes amounted to 200.3 million barrels (mmbl) in the second quarter of 2019, down 11.3 mmbl compared to the second quarter of 2018. The decrease was mainly due to lower third-party crude oil volumes, said the company.
“Average daily equity production of liquids and gas increased slightly to 820 mboe per day in the second quarter of 2019 compared to 809 mboe per day in the second quarter of 2018. The increase was primarily driven by portfolio changes in Brazil, start-up and ramp-up of new fields in offshore North America, and new wells in the US onshore, partially offset by expected natural decline,” said Equinor.
Average daily entitlement production of liquids and gas increased by 3 percent to 649 mboe per day in the second quarter of 2019 compared to 632 mboe per day in the second quarter of 2018, according to the report.
“The increase was due to higher equity production, and lower effects from production sharing agreements (PSA), partially offset by higher US royalties. The net effects from PSA and US royalties were 171 mboe per day in the second quarter of 2019 compared to 178 mboe per day in the second quarter of 2018,” reads the report.
“Net operating income was $685 million in the second quarter of 2019 compared to $561 million in the second quarter of 2018. Lower depreciation and exploration expenses contributed to the increase in net operating income, offset by lower liquids and gas prices and increased operating and administrative expenses in the second quarter of 2019. In the second quarter of 2018, net operating income was negatively impacted by net impairments of $481 million,” said Equinor.
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