Norway’s Equinor said Monday it will start reporting financial results for its U.S. business as a separate operating segment: Exploration and Production International.
CEO Eldar Sætre notified the Annual General Meeting the change becomes effective from the second quarter of 2020, providing the same financial information on the business as for the other reporting segments.
In the current format, earnings, costs, results before and after tax, investments and equity development in the U.S. has been done in the yearly reporting.
The U.S. is a core area for Equinor, which operates both onshore and offshore oil and gas fields in the country, as well as offshore wind farms. Its onshore O&G assets produce roughly 294,000 barrels of oil equivalent per day (Boe/d) – excluding Eagle Ford volumes.
The offshore O&G assets in the Gulf of Mexico produce around 123,000 Boe/d, while offshore wind power generation stands at 816 megawatts.
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