Statoil's (OSE:STL, NYSE:STO) net operating income was up by 2% to 62 billion NOK. Oil and gas production of the company was 17% higher at almost 2 mboe per day while average per barrel liquids price fell by 11% to just under 100 USD. Of the total production liquids represented 58% and gas 42%. Net income of 26.6 billion and earnings per share of 8.30 are 2% lower than in Q2 2011. Total revenues topped 200 billion.
The company maintains expectation and is guiding an organic CAPEX of 18 billion USD with 45 wells to be completed in 2012 meaning an exploration activity of same 3.5 billion USD. Equity production should grow by around 3%. Production in 2013 is expected to be level with 2012. The firm targets 2.5 million barrels per day of oil equivalent in 2020.
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