Investor Presentaiton
92 MBOEPD DELIVERED IN LINE WITH UPDATED GUIDANCE FOR 2022
PRODUCTION1 (MBOEPD)
120
111
111
111
18
97
92
36
90
42
40
40
17
14
23
22
74
69
69
2018A
6.3
62
62
57
56
2019A
2020A
2021A²
2022A2
2023E2
UNIT DIRECT PRODUCTION COST¹ (USD/BOE)
6.4
2018A
2019A
389
340
2018A
2019 A
5.8
2020A
CAPEX¹ (USD MN)
346
2020A
4.9
5.1
54
2021A²
2022A2
422
414
2021A²
1 Figures include consolidated assets, JVs (Baitex) and associates (Pearl, BTC)
2 Discontinued operations excluded from all figures as of 01.01.2021.
2022A²
ACG
E&P International excl. ACG
CEE
COMMENT
Production in line with guidance of over 90 mboepd for 2022
2022 YTD: Natural decline in CEE and Pakistan is mitigated by
the improving performance of Kurdistani assets
Less production from ACG, by cause of lower entitlement
share in 2022 Q4 together with base decline
COMMENT
2022 YTD: UDPC remains in a very competitive range due to
cost effective operations and alleviation of inflation's effect
through a strengthening US Dollar
Realized UDPC is fully in line with our strategic target of
maintaining costs between ~5-7 USD/boe
COMMENT
► Capital spending in alignment with portfolio plans for the
year, with strong cost scrutiny maintained
► Sustained higher investment level mirroring set strategic
directions
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