Production
Total oil and gas entitlement production in the fourth quarter of 2007 was 1.818 mmboe per day, compared to 1.748 mmboe per day in the fourth quarter of 2006. Annual equity production was 1.839 mmboe in 2007.
StatoilHydro expect to grow their equity oil and gas production from 1.9 million barrels of oil equivalents per day (boepd) in 2008 to 2.2 million boepd in 2012.
StatoilHydro foresees an increase both in Norwegian continental shelf (NCS) production levels and from its international upstream portfolio. NCS production is estimated at around 1.5 million boepd for the next ten years, reaching 1.55 million boepd in 2012. International equity production is estimated to grow to 0.65 million boepd in 2012.
Reserves
Proved reserves at the end of 2007 were 6,010 mmboe, compared to 6,101 mmboe at the end of 2006, a decrease of 91 mmboe. In 2007, 542 mmboe were added through revisions, extensions and discoveries, compared to additions of 383 mmboe in 2006, also through revisions, extensions and discoveries.
The reserve replacement ratio was 86% in 2007, compared to 61% in 2006, while the average three-year replacement ratio, including the effects of sales and purchases, was 81% at the end of 2007, compared to 76% at the end of 2006.