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During 2013 Statoil’s net profit dropped by 42%

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statoilDuring 2013 net profit of Norwegian Statoil ASA oil and gas group dropped by 42% against 2012 and totaled 39.9 billion Norwegian crowns ($6.42 billion), reads the company’s report.

Profit per regular share totaled 12.5 crowns ($2.01) against 21.6 crowns a year earlier. During a year Statoil’s profit dropped by 12% to 619.4 billion crowns ($99.67 billion).

During a year hydrocarbon production by Statoil reached 1.94 million barrels of oil equivalent a day, down 3% against 2012. The worsening of the showing is connected with decline of gas production on the Norwegian continental shelf and natural production decline on the mature fields. In 2013 the company managed to increase production outside of Norway up to 723 million barrels of oil equivalent.

From 2014 to 2016 Statoil is going to invest in average $20 billion a year into business development, down 8% against the previous plan. In 2014 the company is going to drill 50 wells and spend about $3.5 billion for the exploration, reported http:///oilru.com.

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