The sales income of ExxonMobil (1) in Norway was NOK 65.3 billion in 2005 – an increase of more than 35% from 2004. ExxonMobil thus keeps its position as the 4th largest company in Norway measured in turnover. Higher oil prices and increased production volumes were the main causes of the increase in sales income.

10% of Norwegian oil production

In 2005, the company produced approx. 445,000 barrels oil equivalent per day – which is equal to approximately 10% of the total Norwegian oil and gas production. Approximately three fourths of the total production are liquids, i.e. crude oil, condensate and NGL (Natural Gas Liquids), while the remainder is gas.

NOK 28.8 billion paid in taxes

The operating profits were NOK 40 billion – approximately 50% higher than in 2004. ExxonMobil has charged the accounts with nearly NOK 28.8 billion in taxes in 2005. Profits for 2005 were NOK 10.3 billion – approximately NOK 3.3 billion higher than in the previous year.

The investments in 2005 were NOK 5.15 billion. Exploration and Production represented more than 90% of the investments. Over the last 15 years, the company has invested close to NOK 90 billion in Norway.

ExxonMobil participated in one exploration well in 2005 – 35/11-13 – in which hydrocarbons were discovered. The company had 25% equity in this so called Astero discovery, which was sold later as part of a major rationalization of the company’s portofolio.

Postive trend in refining activities

Refining activities showed a positive trend in 2005 in spite of an extensive revision stop being implemented at the refinery in the spring. The positive development for refineries was caused by a tenuous increase in the demand for oil production, at the same time as a number of refineries in the US had problems to maintain a stable production owing to extreme weather conditions.

Strengthening of the On the Run specialty chain

Considerable, market related fluctuations of demand for a number of our products in combination with an extensive system technical and organizational restructuring of the company’s activity, has in 2005 led to a slight decrease from 21,3% to 20.8% in the company’s total share of the Norwegian domestic market. The company strengthened its On the Run specialty chain through the building of 14 new stations in 2005. By the end of June 2005, there were 41 such stations – all of them in eastern Norway.

(1) ExxonMobil in Norway includes several companies – i.a. ExxonMobil Exploration and Production Norway AS, ExxonMobil Production Norway Inc., and Esso Norge AS. The figures given in this text are consolidated figures for the three mentioned companies.

Below you find pdf files with the annual reports (in Norwegian) of the three companies:

Årsberetning ExxonMobil Exploration Production Norway AS 2005
Årsberetning Esso Norge AS 2005
Årsberetning ExxonMobil Production Norway Inc. 2005