Total E&P Norge AS
TOTAL E&P NORGE AS ANNUAL REPORT 20 16 CONTENTS 04 KEY FIGURES 05 BOARD OF DIRECTORS’ REPORT 12 INCOME STATEMENT 13 CASH FLOW STATEMENT 14 BALANCE SHEET 16 ACCOUNTING POLICIES 17 NOTES 27 AUDITORS' REPORT 29 OUR INTERESTS ON THE NCS 30 MANAGEMENT STRUCTURE 2 2016 TOTAL REVENUES MILLION NOK 24 762 OPERATING PROFIT MILLION NOK 4 164 PRODUCTION (NET AVERAGE DAILY PRODUCTION) THOUSAND BOE 235 RESERVES OF OIL AND GAS (PROVED DEVELOPED AND UNDEVELOPED RESERVES AT 31.12) MILLION BOE 816 EMPLOYEES (AVERAGE NUMBER) 438 3 ANNUAL REPORT 2016 | TOTAL E&P NORGE AS | KEY FIGURES KEY FIGURES MILLION NOK 2016 2015 2014 INCOME STATEMENT Total revenues 24 762 30 423 42 624 Operating profit 4 164 10 864 22 323 Financial income / (expenses) - net (204) (1 020) (364) Net income before taxes 3 960 9 844 21 959 Taxes on income 1 663 6 014 14 529 Net income 2 297 3 830 7 431 Cash flow from operations 13 351 15 644 17 038 BALANCE SHEET Intangible assets 1 763 2 090 2 326 Investments, property, plant and equipment 85 103 84 056 76 002 Current assets 9 385 7 106 7 814 Total equity 17 154 18 880 15 032 Long-term provisions 37 922 36 139 31 884 Long-term liabilities 32 856 33 504 26 774 Current liabilities 8 319 4 730 12 452 OTHER KEY FIGURES Acquisition of property, plant and equipment IN (MNOK) 13 583 15 476 16 902 Exploration activity, costs and investments IN (MNOK) 1 512 1 270 1 237 Rate of return on capital employed *) 4,8 % 8,8 % 20,1 % Production cost USD/BBL 5,5 6,9 9,2 Transport cost USD/BBL 3,6 3,6 5,3 PRODUCTION IN THOUSAND BOE Net average daily production 235 239 242 RESERVES OF OIL AND GAS IN MILLION BOE Proved developed and undeveloped reserves at 31.12 816 869 958 EMPLOYEES Average number of employees 438 447 424 *) Net income plus financial expense after tax as a percentage of capital employed at 1 January.
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