Strong cashflow and operational performance
7% production growth with strong performance from Johan Sverdrup and Johan Castberg
Robust balance sheet through lower price environment
Reported results impacted by net impairments, primarily driven by lower price outlook
Strong cost focus
Stable cost from last year 1)
50% cost reduction in Renewables
Stopping two early-phase electrification projects
Strategic development
First oil from the Bacalhau field in Brazil in October
Successful infrastructure-led exploration on the NCS
Participating in Ørsted rights issue, positioning for industrial and strategic collaboration
Capital distribution
Third quarter cash dividend of USD 0.37 per share and fourth tranche of share buy-back of up to USD 1.266 billion
Total capital distribution for 2025 in line with announced level of around USD 9 billion
Anders Opedal, President and CEO of Equinor ASA:
"We deliver strong operations this quarter. High performing fields and new fields coming on stream on the Norwegian continental shelf, drive production growth."
"In October, we started production from our largest offshore field internationally, Bacalhau. The field will contribute substantially to grow earnings from our international portfolio towards 2030."
"We have systematically addressed cost over time. In a period with both production growth and inflation, we maintain stable costs year to date.
Strong cashflow and operational performance
Equinor delivered a total equity production of 2,130 mboe per day in the third quarter, up 7% from 1,984 mboe per day in the same quarter last year.
Operational performance on the Norwegian continental shelf (NCS) was strong with several fields, in particular the Johan Sverdrup field, delivering strong production and minimal unplanned downtime. Combined with the new Johan Castberg and Halten East fields, the production growth was 9% on the NCS compared to the same quarter last year. New wells and lower impact from turnarounds also contributed positively.
The acquisition of additional interests in US onshore assets in 2024, and increased production from offshore assets, contributed to a 29% increase in oil and gas production from the US segment in the third quarter, compared to the same period last year.
The production from the international upstream segment, excluding the US, is down compared to the same quarter last year due to exits ...
