BAKU, Azerbaijan, Oct.27
By Leman Zeynalova – Trend:
Average daily equity production of liquids and gas by Norway’s Equinor company was 322 mboe per day in the third quarter of 2021 compared to 323 mboe per day in the third quarter of 2020, Trend reports with reference to the company.
As such, Equinor’s daily equity production of liquids and gas dropped by 0.3 percent.
The flat production development was primarily due to natural decline in mature fields, partially offset by higher field specific production in Russia, said Equinor.
Average daily entitlement production of liquids and gas was 229 mboe per day in the third quarter of 2021 compared to 255 mboe per day in the third quarter of 2020. The decrease was mainly due to lower entitlements under production sharing agreements (PSA) as a result of higher prices. The net effects from PSA were 93 mboe per day in the third quarter of 2021 compared to 68 mboe per day in the third quarter of 2020.
Net operating income was positive USD 534 million in the third quarter of 2021 compared to negative USD 1,328 million in the third quarter of 2020. The increase was mainly due to higher liquids and gas prices in addition to net reversal of impairments in the third quarter of 2021 compared to net impairments in the third quarter of 2020. Lower entitlement production partially offset the increase. In the third quarter of 2021, net operating income was negatively impacted by net underlifted volumes of USD 78 million, partially offset by net reversal of impairments of USD 51 million. In the third quarter of 2020, net operating income was negatively impacted by impairments of USD 1,176 million.
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