BAKU, Azerbaijan, May 3. Equinor estimates its oil and gas production for 2024 to remain stable compared to the 2023 level, Trend reports.
As per its forecast, Equinor aims to maintain its production cost per unit in the top quartile among its peers.
At the same time, scheduled maintenance activities are projected to decrease equity production by approximately 60 thousand barrels of oil equivalent per day for the entirety of 2024.
Meanwhile, Equinor achieved a total equity production of 2,164 thousand barrels of oil equivalent per day in 1Q2024, marking an increase from 2,130 thousand barrels of oil equivalent per day during the same quarter last year.
This growth is attributed to strong operational performance, the company explains, adding that the expansion of capacity at Johan Sverdrup and the ramp-up of Breidablikk, along with the activation of new wells in the Norwegian continental shelf, have notably bolstered growth. Internationally, the Vito field in the US Gulf of Mexico, the Buzzard field in the UK, and new wells in Angola contributed to a 3-percent increase in production.