ConocoPhillips Norge posted a profit of 5,124 million kroner in 2013. 

‘2013 was a very busy year in the Norway business unit and we delivered according to our plans. We carried out several major development projects and we achieved good safety results and operational regularity throughout the year, ‘ says Steinar Våge, President Europe.  In 2013, the company was awarded two ownership interests in the Awards in Predefined Areas (APA) round, of which one as operator – as well as four ownership interests, including one operatorship, in the ordinary 22nd licensing round.

Production
Net production in 2013 totaled 43.3 million barrels of oil equivalents. This corresponds to a daily average of 118,500 barrels. In comparison, average production in 2012 was 134,000 barrels per day. The reduction is due to natural decline as the fields age along with a planned, very extensive maintenance shutdown carried out in the summer of 2013.

Result
Total revenues in 2013 amounted to 26,451 million kroner. Income from operations was 16,347 million kroner, a decline of 5,377 million kroner compared with the 2012 accounting year. The decrease is mainly due to lower income from operations. Income taxes totaled 11,246 million kroner in 2013, compared with 15,995 million kroner in 2012.

The road ahead
‘In the years ahead, we have planned an extensive drilling program with many new wells on the Ekofisk and Eldfisk fields. This will help to increase production. There will also be a big challenge to be more cost-effective. Reducing operating and capital costs will strengthen our competitiveness. This will help us to carry out new investments and continue to build on our strategy of having a long-term and sustainable business entity for many decades to come,’ says Steinar Våge. 

Consolidated key figures for ConocoPhillips Norge 2013