Third Quarter Key Points
- Earnings up 16% to $1 189 million
- E&P production up 5% to 59.4 mmboe; E&P total operating profit up 13%
- Full year 2012 E&P production growth forecast at some 3%; 2013 production expected in line with 2012
- LNG total operating profit up 24%; full year forecast at upper end of guidance range
- QCLNG progressed towards first LNG in 2014, with a record 135 wells drilled in the quarter
- In Brazil, good progress with drilling and FPSO programmes; reserves/resources independently certified
- Heads of agreement signed to sell QCLNG stake and an additional 5 mtpa of LNG to CNOOC
- Portfolio rationalisation to release $7.6 billion of capital by mid-2013, exceeding target
- Tanzania gross recoverable resources near 10 tcf after sixth consecutive gas discovery
- Exploration progress in Australia, Brazil, India, Kenya and Uruguay
