Norwegian oil and gas major StatoilHydro has reported a net income of NOK2 billion for the fourth quarter of 2008, compared to NOK6.2 billion for the same quarter of 2007.
The company has reported a net income of NOK43.3 billion for the year 2008, compared to NOK44.6 billion in 2007. For the year 2008, StatoilHydro has reported net operating income of NOK198.8 billion, compared to NOK137.2 billion in 2007.
For the fourth quarter of 2008, the company has reported net operating income of NOK37.8 billion for the fourth quarter of 2008, compared to NOK30.8 billion for the same quarter of 2007.
According to the company, in the fourth quarter of 2008, it delivered total liquids and gas entitlement production of 1,857 mboe per day, which increased compared to the 1.818 mboe per day delivered in the fourth quarter of 2007.
The oil company said that, total liftings of liquids and gas were 1,783 mboe per day in the fourth quarter of 2008, compared to 1,785 mboe in the fourth quarter of 2007. Total equity production increased by 3% from the fourth quarter of 2007 to 2,023 mboe per day in the fourth quarter of 2008.
Helge Lund, CEO of StatoilHydro, said: “I am pleased with the performance of the company. We have delivered good production and carried out exploration programs ever. In 2008, we put 12 new fields on stream. Through targeted business development we have strengthened our positions for long-term international growth.”
