Slide 1: 2nd quarter 2022 results
2nd quarter 2022 results Ulrica Fearn Chief Financial Officer 27 July 2022 Open
Slide 2: Second quarter 2022
Second quarter 2022 − Continued strong earnings and cash flow from operations after tax of USD 10 billion1 − Solid operational performance • Maintaining high gas production from NCS • Hammerfest LNG and Peregrino safely back on stream − Delivering on our key strategic priorities • Further optimisati
Slide 3: Safety: performance indicators
Safety: performance indicators Serious Incident Frequency (SIF) Total Recordable Injury Frequency (TRIF) Oil and gas leakages Serious incidents and near-misses per million hours worked. Personal injuries requiring medical treatment per million Number of leakages with rate above 0.1 kg/second 12-mont
Slide 4: Equity production
2Q 2022 Equity production Oil and gas Power − High gas production from NCS to Europe for energy security − Increased power generation, up ~15% • Production from Guañizuil IIA − Solid operational performance and production • Stronger wind and higher production from offshore wind assets • Impacted by
Slide 5: Financial results
2Q 2022 Financial results 2Q 2022 6,762 17,733 (143) 17,590 (12,590) 5,000 Million USD − Continued strong earnings − Higher realised prices • Liquids up ~70% to 107 USD/bbl • European gas up ~260% to 27 USD/mmbtu • North American gas up ~190% to 6.5 USD/mmbtu − Adjusted upstream cost increased mainl
Slide 6: High adjusted earnings
2Q 2022 High adjusted earnings E&P Norway E&P International E&P USA MMP REN − Strong earnings and cash flow − Strong earnings and cash flow − Record earnings and cash flow − Strong earnings driven by − Earnings from assets in European gas and power operation USD 32 million − High gas production with
Slide 7: Strong cash flow
2Q 2022 Strong cash flow Year to date 2022 Cash flow Million USD Year to date 2022: − Cash flow from operations after tax USD 26 billion Cash flow − NCS Tax payments USD 11.9 billion based on 2021 earnings from Total taxes operations3 paid − Further strengthening of the balance sheet 38,122 (12,357)
Slide 8: Outlook
Outlook Production growth 1 2021-22 ~2 percent 2022-23 ~10 billion USD Organic capex 2 2024-25 ~12 billion USD 1. Production rebased for portfolio measures 2. Annual average capex based on USD/NOK of 9 9 | 2Q 2022 results Open 27 July 2022
Slide 9: Segment results
2Q 2022 Segment results Adjusted earnings E&P Norway E&P International E&P USA MMP REN Pre tax, Million USD 2Q 22 14,330 1,111 881 1,310 (42) 2Q 21 3,967 400 230 154 (31) Reported Net operating income Pre tax, Million USD 2Q 22 14,482 982 872 1,456 (42) 2Q 21 4,420 593 204 144 (31) 10 | 2Q 2022 resu
Slide 10: Forward-looking statements
Forward-looking statements This report contains certain forward-looking statements that involve risks and uncertainties. In some cases, we use words disasters, adverse weather conditions, climate change, and other changes to business conditions; regulatory stability and such as "ambition", "continue
Slide 11: Investor Relations in Equinor
Investor Relations in Equinor E-mail: irpost@equinor.com Norway/UK Mads Holm Senior Vice President madhol@equinor.com +47 90 95 54 17 Lars Valdresbråten IR Officer lava@equinor.com +47 40 28 17 89 Erik Gonder IR Officer ergon@equinor.com +47 99 56 26 11 Amberley Doskey IR Officer amlev@equinor.com +