BAKU, Azerbaijan, October 28. Equinor's
Exploration & Production International segment reported net
operating income of $2.254 billion in the first nine months of
2026, more than three times the $741 million recorded in the same
period last year, according to Trend’s analysis based on the
company's unaudited financial results.
Total revenues and other income increased by 17.7% year-on-year
to $4.985 billion from $4.234 billion.
At the same time, total operating expenses fell by 21.8% to
$2.731 billion from $3.493 billion, contributing to the improvement
in operating income.
“The decrease for the first nine months of 2026 was mainly
driven by divestments and lower operating costs in Angola and at an
asset in Brazil, partially offset by Bacalhau production start-up
and other variable costs,” said the company.
Equinor's equity oil and gas production in the international
segment averaged 326,000 barrels of oil equivalent per day (boe/d)
in the first nine months of 2026, up 10.9% from 294,000 boe/d in
the corresponding period of 2025.
Entitlement oil and gas production increased by 15.2% to 266,000
boe/d from 231,000 boe/d.
The results indicate that the international segment benefited
from higher production, increased revenues, and lower operating
expenses during the reporting period.
Equinor said that the start-up of Bacalhau and the establishment
of Adura in the fourth quarter of 2025 led to an increase in equity
production in the third quarter and first nine months of 2026
compared to the same periods last year.
“Lower turnaround activity further contributed to the increase.
The increase was partially offset by portfolio changes, including
the sale of the 40% operated interest in Peregrino in November 2025
and the Argentina onshore assets in May 2026, as well as by natural
production decline across certain fields and operational issues at
Roncador,” said the company.
