Expanding in Circular Economy
~87 MBOEPD, DELIVERED IN LINE WITH GUIDANCE FOR 2023
ACG
E&P International excl. ACG
CEE
PRODUCTION1 (MBOEPD)
COMMENT
O
111
0
120
Production is ~87 mboepd in line with guidance for 2023
18
42
40
272
97
17
23
22
92
87
14
22
838
~90
13
20
2023 Q3: Natural decline in CEE is mitigated by the improving
performance of Hungary, and Pearl
69
62
57
56
54
2019A
2020A
2021A
2022A
2023Q3
2023E
6,4
UNIT DIRECT PRODUCTION COST¹ (USD/BOE)
5,8
4,9
2019A
2020A
2021A
CAPEX¹ (USD MN)
5,1
6,5
2022A
2023Q3
389
346
422
414
97
2019A
2020A
2021A
2022A
2023Q3
Negative effect were ACG entitlement share changes and
baseline decline, moreover planned turnarounds in Croatia
Restarting production of Shaikan from July for domestic sale,
while the export line is still shut in since 25th March
COMMENT
2023 Q3: costs increased temporarily due to higher energy costs,
stoppage of production in Shaikan, and with planned
turnarounds
Realized UDPC is in line with our strategic target of maintaining
costs between ~5-7 USD/boe
COMMENT
Capital spending is in alignment with past couple years' trend
according to the strategy with strong cost scrutiny maintained
1 Figures include consolidated assets, JVs (Baitex) and associates (Pearl, BTC), 2019 and 2020 figures are including UK production
MOLGROUP | 46View entire presentation