BAKU, Azerbaijan, July 28
By Leman Zeynalova – Trend:
Equinor’s production for 2021 is estimated to be around 2 percent above 2020 level, Trend reports with reference to the company.
Equinor’s ambition is to keep the unit of production cost in the top quartile of its peer group. Scheduled maintenance activity is estimated to reduce equity production by around 50 mboe per day for the full year of 2021.
Organic capital expenditures are estimated at an annual average of USD 9-10 billion for 2021-2022 and around USD 12 billion annual average for 2023-2024.
Total equity liquids and gas production was 1,997 mboe per day in the second quarter of 2021, down 1 percent compared to 2,011 mboe per day in the second quarter of 2020 mainly due to planned turnarounds, expected natural decline, divestment of an unconventional US onshore asset in the second quarter of 2021, in addition to the shutdown at the Hammerfest LNG plant. Higher flexible gas off-take and ramp-up of fields on the Norwegian continental shelf partially offset the decrease. Total entitlement liquids and gas production was 1,845 mboe per day in the second quarter of 2021, down 3 percent compared to 1,897 mboe per day in the second quarter of 2020. The production was negatively influenced by the factors mentioned above in addition to higher effects from production sharing agreements (PSA). The net effect of PSA and US royalties was 152 mboe per day in total in the second quarter of 2021 compared to 114 mboe per day in the second quarter of 2020.
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